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This course deals with English law and various features of the relationship between banks and their customers.

What rights and duties do banks and their customers have?

Banking is fundamental to any developed economy, banks receive deposit which they lend out and they act as intermediaries in payments.

The first issue we need to consider is ‘What is a bank?’ it may be easy to recognize, but rather hard to define.

Must a business have certain features, and do certain things, before we can call it a bank? What are those things? Why aren’t terms like ‘bank’, ‘banking’ and ‘customer’ clearly defined?

As we will discover, one reason is that the nature of banking changes rapidly. We’ll also examine other issues, such as ‘what are the terms of a banking contract?’ and how these questions are not as easily answered as we might think.

The course also looks beyond these contractual rights and duties, to money and payment systems, questioning each term in detail.

Module A: Banks and Customers

LWM72A

Module B: Duty of Care, Fiduciary Duty, Constructive Trust and Undue Influence

LWM72B

Module C: Accounts, Money, Payment and Fund Transfers

LWM72C

Accounts and dispute resolution

Module D: Cheques and payment cards

LWM72D

Cheques

Payment cards and recovering mistaken payments

Assessment

Each module is assessed by a 45-minute unseen written exam.

Sequence

Students are required to attempt the modules in order.

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