BANKING vol 4(1) | Commentary

1 Relationship

BANKING vol 4(1) | Commentary

Commentary

A: DOCUMENTS

1: BANKER AND CUSTOMER

1 Relationship

The relationship between a banker and his customer is contractual in nature. When a customer deposits money in a bank account the relationship is that of creditor and debtor1; in relation to the drawing and payment of the customer’s cheques drawn on the customer’s account the relationship is that of principal and agent2. This contract ordinarily is made up of the bank’s standard terms in the case of retail banking3. Most banking documents come into existence to meet the need for some particular contract not

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