Right of Appropriation (Sec 59)

PPB Banker's Special Relationship Free JAIIB Capsule 28 views Updated
Capsule FREE
PPB · Banker's Special Relationship
Under Section 59 of the Indian Contract Act, who holds the primary right to appropriate a payment made into a loan account?
Tap to flip and reveal the answer

Premium Content

This answer is available to premium members

Unlock Premium
28 views

Under Section 59 of the Indian Contract Act, who holds the primary right to appropriate a payment made into a loan account?

The full answer is part of ClearShorts Premium

This capsule covers Principles & Practices of Banking, Banker's Special Relationship. Members get the complete explanation plus every other premium capsule, mock test and PDF.

See membership plans

Comments (0)

Login to post a comment.

No comments yet. Start the discussion!

Related JAIIB PPB Capsules

Capsule FREE
When a customer opens a savings or current deposit account with a bank, what is the primary legal relationship established?
The Bank is the Debtor, and the Customer is the Creditor.
Capsule FREE
What is the banker-customer relationship when the bank grants a loan or advance to the customer?
The Bank is the Creditor, and the Customer is the Debtor.
Capsule FREE
What is the legal relationship between the bank and customer when valuables are deposited for safe custody?
The Bank is the Bailee, and the Customer is the Bailor.
Capsule PRO
In the Account Aggregator framework, who ultimately holds the power to initiate the transfer of financial information?
The customer. The transfer of information happens ONLY based on an explicit, digital, and revocable consent provided by the customer.
Capsule FREE
When a bank provides a safe deposit locker to a customer, what specific relationship is formed?
The Bank is the Lessor, and the Customer is the Lessee.
Capsule FREE
In a pledge transaction where goods are kept as security, what is the relationship between the bank and the borrower?
Bank is the Pawnee (Pledgee), Customer is the Pawner (Pledger).
App Icon
Install ClearShorts App
Study offline, anytime