P. 1
negotiable instrument

negotiable instrument

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Publicado porMomna Amjad

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Published by: Momna Amjad on Apr 30, 2011
Direitos Autorais:Attribution Non-commercial

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09/17/2012

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1.

Right of “Set off or the right to combine accounts”: A banker
can combine two or more accounts of a customer and shoe
the net balance as the amount due to from him.

2.

Banker’s General Lien: The banker has a right of general lien
against the customer; the right to retain as security for a
general balances of accounts any goods and securities bailee
to him.

3.

Right of Application: Where customer has not directed the
bank to appropriate a deposit against a particular debt, it is
the bank’s right to appropriate the Payment to any debt.

4.

Law of Limitation: Under article 22 of part 2 of the schedule
to the limitation act 1963 the period of limitation for the
refund of bank deposits is there years from the date the
customer demand repayment.

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