PrincipleBANKING LAW ā Banker-Customer Relationship ā Effect of Breach of Joint Mandate
- Area of law
- BANKING LAW
- Court
- Supreme Court
A joint mandate creates a duty on the bank to require all designated signatures. Payment without all required signatures breaches that duty. The principle applies to banking law and partnership accounts. The rule protects partners from unilateral withdrawals. The bank cannot rely on one partner'sā¦
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