Banking Law Case Study Example | Topics and Well Written Essays - 2500 words

Banking Law - Case Study Example The whole point of the cheque card is to make it wholly different with banks promising to pay irrespective the state of the customer's account. The person who produces a cheque card makes no representation that he is in credit with his bank. All the trader is concerned to ask is whether the customer have a cheque card, whether it matches the cheque, whether the cheque is for not more than the permissible credit limit and whether the signature on the cheque match the signature on the card. In the present case the appellant/ accused opened a bank account with the National Westminister Bank. He was allowed an overdraft of 100 pounds of one month which was latter extended for a month. The conditions were printed on the back of the cheque. The issuing bank undertakes that any cheque not exceeding 30 pounds will be honored subject to the fact that the cheque must be signed in the presence of the payee, the signature on the cheque must correspond with the specimen signature on this card, the cheque must be drawn on a bank cheque form bearing the code number shown on his card, the cheque must be drawn before the expiry date of his card, the card no. ... If these conditions are complied with the recipient need not concern himself about the drawers credit worthiness for he knows the cheque would be honored on presentment.A man who gives a cheque represents that it will be met on presentment. And if a cheque is accepted by the payee it is the belief that it will be met. And when it is supported by the bank's undertaking and all doubts in the mind of the payee as to the cheque being honored will be removed if he sees that the stipulated conditions are complied with. But by issuing a cheque book and a cheque card the bank has not authorized him to bind them by the use of the card to honor every cheque in the cheque book. It was observed that by exhibiting to the payee a cheque card containing the undertaking by the bank to honor cheques drawn in compliance with the conditions endorsed on the back, and drawing the cheque accordingly, the drawer represents to the payee that he has actual authority from the bank to make a contract with the payee on the bank's behalf that it will honor the cheque on presentation for payment. Speaking on ostensible authority on its head it was observed that if the other party has believed the representation and on the faith of that belief has acted upon it and the person represented to be his principal has so conducted him self towards that other party as to be estopped from denying the truth of the representation , then and only then, is he bound by the contract purportedly made on his behalf. The whole foundation of liability under the doctrine of ostensible authority is a representation , believed by the person to whom it is made, that the person claiming to contract as agent for a principal has the

Human Population Essay Example | Topics and Well Written Essays - 2000 words

Human Population - Essay Example The number keeps growing every second. Human Population itself is not a problem. The Earth is meant for humans to dwell in it. However, it becomes a problem when too many or too less humans live in it and this is known as Over Population and Under Population respectively. Total population is increasing at a rate of around 1.15 % per year and the average annual population change is approximated at over 77 million right now. The increase rate was highest in the 1960s and it has almost halved since then. The total population in Year 1 was 200 million while today in year 2008 it has hit 6 billion. It is estimated to reach 9.2 billion by 2050! (World Population Clock-Worldometer, 2008) Better health-care facilities in developed countries imply fewer deaths. Despite this, most population increases are taking place in developing countries. This is because the birth rate increases more than the decrease in death rate. Alternatively, in developed countries, there is a problem of under population. Life expectancy has increased a lot and the fertility rate has decreased. This is true for countries like Germany. Human population follows the pattern of an exponential growth; it grows slowly at first but then very rapidly (Hopkins, J., 2008). This clearly has implications for the future as the world will become over-populated at one time. Over-population is when the resources of an area can not meet the needs of the humans living in it or in other words the Earth's carrying capacity is utilized. Hence, it is problematic, very. The concept of Over Population can be showed with an analogy. Take the example of a restaurant. It employs five waiters in the beginning. The restaurant gains from them. Slowly the number keeps growing and the number increases to 20 waiters. They start crashing into each other, damaging utilities and worrying other people around them. This is a problem because it becomes difficult for these waiters to behave naturally as they would with only five waiters. This, hence, is the problem of overpopulation. The thing to notice here is that it is also closely related to the economics concept of the Diminishing Law of Marginal Utility. Factors that contribute to and are affected by the Human Population Living Factors The most obvious factor that contributes to human population is humans themselves. Population obviously increases because of increased birth rates or an increase in the fertility rate. People in developing countries are having more and more babies everyday because of which the number is increasing. Humans are also affected by the growing population themselves. Non-Living Factors Along with increased birth rates, decreased death rates or mortality also could also contribute to human population. The death/mortality rate decreases when medical and health care facilities are good. The number of deaths, therefore, decreases when countries are developed or are moving towards development. Because of globalization, today all boundaries between countries have been removed. This promotes specialization and the overall growth of economies of different countries. The growth in an economy is shown by increased and enhanced health-care facilities and hence, a lower number of deaths and a higher life expectancy age. Therefore, there is the