LAW LML4807

lml4807 latest Testbank complete lml4807 latest Testbank complete

Question 1: Define Banking That part of the law that regulates the legal relations of banks in their capacity as FINANCIAL institutions. Question 2: Define public-banking law The public banking law governs the legal relationships between banks and government organs (especially the Registrar of Banks) whom are in a position of authority to the banks and includes legal rules providing for state control over money and banking in general and banking operations in particular. Question 3: D...

LML 4807 BANKING LAW EXAM MEMO 1. Name and explain the roles of the various parties involved in documentary letters of credit. Depending on the circumstances a large number of different parties may be involved in a letter of credit. These include: -The applicant This is usually the buyer(importer) in terms of the contract of sale and who applies to the issuing bank for the issuance of the letter of credit. -The issuing bank or opening bank This bank issues or opens the letter of credi...

LML 4807 BANKING LAW EXAM MEMO 1. Name and explain the roles of the various parties involved in documentary letters of credit. Depending on the circumstances a large number of different parties may be involved in a letter of credit. These include: -The applicant This is usually the buyer(importer) in terms of the contract of sale and who applies to the issuing bank for the issuance of the letter of credit. -The issuing bank or opening bank This bank issues or opens the letter of credi...

CONTENTS PAGE QUESTION PAPERS MAY/JUNE 2019 OCTOBER/NOVEMBER 2018 MAY/JUNE 2018 LML4807 BANKING LAW AND USAGE MAY/JUNE 2019 QUESTION 1 Briefly explain the following concepts 1.1. E-money Definition: Electronic purse is a card with an embedded computer chip containing real value in the form of electronic money which was paid in advance, some of which can be reloaded with further funds and which can be used for a range of purposes. Rights and obligations between parties are determine...