EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Earn 100

Under which of the following situations, Clayton's rule relates to?

50% studentsanswered this correctly

Important Questions on Banking Law and Practice

EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 6
Clayton's rule applies to the following type of loan accounts:
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 7
Where neither the debtor gives any direction nor the creditor uses its discretion to appropriate the amount deposited by the borrower, the principle of Rule in Clayton is to be followed.
MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 8
Under which of the following circumstances, a bank should rule off the account showing debit balance with the bank and stop any operations to avoid the application of Rule in Clayton's case?
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 9

Where the debtor, while depositing the amount, does not give any direction as to where to credit, the banker can appropriate as per its discretion.

MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 10
C/C account of M/s Ramesh Chander Sham Kumar is showing a debit balance of Rs. 150000. One of the partners died on Jan 31, 2004. In order to see that the business of the firm does not suffer, the bank allowed operations in the account by the surviving partners deposited Rs. 60000 and withdrew Rs. 35000 in different transactions. What is the extent of liability of the legal heirs, to settle the account?
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 11
Provisions regarding the right of appropriation are available under Section 59, 60 and 61 of Indian Contract Act.
EASY
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 1
Which of the following is related to the provisions regarding Garnishee Order?
MEDIUM
Bihar Cooperative Bank Assistant Mains
IMPORTANT
Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 2
The provisions regarding garnishee order are as per Section 60 of Civil Procedure Code Rule 46 and Order XXI of the Schedule to Civil Procedure Code 1908, related to which of the following?