Bank Collections and Payment Transactions: A Comparative Legal Analysis

Hardcover | June 1, 2001

byBenjamin Geva

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This is a study of the law governing the bank-customer relationship pertaining to the disposition of funds by cheques and credit transfers, covering both paper-based and electronic payments. The work addresses, with various degrees of detail, common law, civilian, and `mixed' jurisdictions,particularly, Australia, Canada, England, France, Germany, Israel, Italy, Japan, South Africa, Switzerland and the United States. In addition to the description of the law in these jurisdictions, the book contains an in-depth analysis of the common issues and the responses to them, in light ofdesired policies. Accordingly, an evaluation of the various rules and proposals for reform are integral parts of the study.The book is divided into four parts. Part I is an overview of the various legal systems and fundamentals in banking and payment law, in an overall historical context. Part II deals with the banking relationship, within which collections and payments occur. It highlights the customer contract, thedeposit transaction, the mandate authorizing bank collections and payments, and the debt resulting from entries to the current account. Part III covers the performance of the mandate. It discusses extensively laws governing the payment and collection of cheques and credit transfers, in the contextof actual clearing and settlement mechanisms, particularly large-value transfer systems in developed countries. Part IV is on payment systems misuse through fraud, either in the initiation payments or in misdirecting them. It discusses cheque forgery, unauthorized electronic funds transfers, forgedcheques indorsements, and misdirected funds transfers. A unique feature of the work is the integration of a cohesive analytic perspective, both doctrinal and policy-oriented, into a comparative descriptive framework. The book searches for a universal `law merchant' transcending the boundaries of the various legal systems. It is aimed at the banking andpayment law specialist and student as well as to the general comparative lawyer. Its focus on both present law and reform makes it useful to both the academic and practising lawyer.

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From the Publisher

This is a study of the law governing the bank-customer relationship pertaining to the disposition of funds by cheques and credit transfers, covering both paper-based and electronic payments. The work addresses, with various degrees of detail, common law, civilian, and `mixed' jurisdictions,particularly, Australia, Canada, England, Fran...

Benjamin Geva is Professor of Law at Osgoode Hall Law School, York University, Toronto, Canada

other books by Benjamin Geva

Format:HardcoverDimensions:580 pages, 9.21 × 6.14 × 1.46 inPublished:June 1, 2001Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198298536

ISBN - 13:9780198298533

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Table of Contents

I. INTRODUCTION1. Legal Systems, Sources of Law, Banks and Customers, Collection and Payment TransactionsII. THE BANKING RELATIONSHIP2. The Account Agreement3. The Deposit of Funds4. Management of Customers' Payments: Mandate, Agency and Implied Terms5. The Current AccountIII. THE PERFORMANCE OF THE MANDATE6. Orders for the Disposition of Funds7. Payment and Collection of Cheques8. Credit Transfers9. The Disposition of Funds Held in Non-Depository Account Holding InstitutionsIV. THIRD PARTY'S FRAUD: BREACH OF THE MANDATE AND MISDELIVERY OF FUNDS10. Introduction11. Allocation of Forged Cheques Losses12. Unauthorized Electronic Funds Transfers13. Forged Indorsements14. Misdirected Credit Transfers

Editorial Reviews

`The comparative monograph is clearly aimed at banking law specialists, and would be of great use to academic researchers and lawyers specialising in this area' European Library, No.8168/496