Principle

BANKING LAW — Banker-Customer Relationship — Consolidation of Accounts — Whether a bank can consolidate its customers’ accounts

Area of law
BANKING LAW
Court
Supreme Court

A bank may consolidate accounts owned by the same customer. The principle applies to banking law. Consolidation for separate legal entities is different. The rule protects the bank's right to assess financial worth. The customer may contract out of consolidation. The principle is well-established.

Read the full principle with Sanctum

Sanctum is the key to all NLC content: judgments, principles, statutes, rules of court and court forms. Choose a plan from 1 month to 36 months.

Get Sanctum Access I’m a member — Log in