Banking Law Assignment - 2511 Words

â€Å"†¦.if the creditor bank has notice, actual or constructive, of undue influence exercised by the husband (and consequently of the wife’s equity to set aside the transaction) the creditor will take subject to that equity and the wife can set aside the transaction against the creditor†¦as well as against the husband.† (per Lord Browne-Wilkinson in Barclays Bank plc v O Brien [1994] 1 AC 180 at 191) Critically discuss the above statement. Analysis of wife’s equity to set aside the husband’s transaction due to undue influence. Establish the principles of the doctrine of undue influence first to establish the foundation stones of which third party undue influence occurs. Equity was introduced to act as an enhancement of common law,†¦show more content†¦2B. the claimant has to prove in first occurrence that there was a present relationship of trust and confidence among the complainant and the wrongdoer of a nature that is reasonable to presume the wrongdoer mistreated that relationship Relationship between bank and customer Undue influence by Banks The normal relationship amongst a bank and a customer is not of trust and confidence however it is a business relationship where the bank is concerned for its own interest. As illustrated by National Westminster Bank plc v Morgan [1985]. Mrs Morgan claimed that the charge should be set aside on the grounds of undue influence. However lord Scarmen applied the ratio decendi from sir eric’s judgment in Lloyds v Bundy, in his judgment. ‘When, however, a bank ... goes further and advises on more general matters relevant to the wisdom of the transaction, indicates that it may, not necessarily obliged to, be crossing the line into the area of confidentiality so that the court may then have to examine all the facts including, of course, the history leading up to the transaction, to determine whether or not that line has, been crossed’ It was held that Mrs Morgan was liable for the charge against her home as, ‘Mr Barrow never crossed the line. the transaction was not unjust to Mrs Morgan. The bank had no duty to ensure she had independent guidance. It was an average banking transaction which Mrs Morgan wanted to save her house; and sheShow MoreRelatedBanking Course Outline1060 Words   |  5 PagesCarleton University Course Outline COURSE: TERM : PREREQUISITES: CLASS: Day Time: Room: LAWS 3206 A – Banking Law Fall 2010 Department of Law LAWS 2003 [1.0] (no longer offered) or LAWS 2202 or BUSI 2601 Fridays - 11:35 am - 2:25 pm Please check with Carleton Central for current room location Sam Schwisberg INSTRUCTOR: (CONTRACT) CONTACT: Office: Office Hrs: Telephone: Email: Loeb C476 Fridays immediately following class as needed 613-740-1965 samuel.schwisberg@redcross.ca StudentsRead MoreAdasdasda754 Words   |  4 Pagesin every constituency, in cities, in seaside towns... Save Paper Energy For Sustainable Management: Unit 3 Assignment able to produce as much useful energy as they consume, the break-even point. Sustaining reactions that produce enough energy to make them a commercially viable power... 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