StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Banking and Insurance Law - Essay Example

Comments (0) Cite this document
Summary
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.2% of users find it useful
Banking and Insurance Law
Read TextPreview

Extract of sample "Banking and Insurance Law"

Download file to see previous pages Letters of Credit (LCs) is an instrument of maritime trade which has long been acclaimed as the nerve center of international trade. LCs are not "contracts" or "surety ship obligations" or "negotiable instruments" or an "agency agreements", but separate independent obligations to be interpreted on their own terms and conditions without reference to any other documents. ...
or non-performance; transfer, assignment and back-to-back LCs; wrongful dishonor and anticipatory repudiation of it etc.UCPDC have technical rounded-up the standardized procedures and definitions on types of credit, teletransmitted and pre-advised credits, standard for examination of documents, discrepant documents and notice, disclaimer on effectiveness of documents, disclaimer on the transmission of messages, Force Majeure, bank-to-bank reimbursement arrangements, ambiguity as to the issuers of documents, unspecified, issuers or contents of documents, issuance date of documents v. credit date, Marine/Ocean Bill of Lading, Non-Negotiable Sea Waybill, Charter Party Bill of Lading, Multimodal Transport Document, Air Transport Document, Road, Rail or Inland Waterway Transport Documents, Courier and Post Receipts, Transport Documents Issued by Freight Forwarders, 'On Deck', 'Shipper's Load and Count', Name of Consignor, Clean Transport Documents,
Freight Payable/Prepaid Transport Documents, Insurance Documents, Type of Insurance Cover, Commercial Invoices etc (UCPDC 500, 1993).In fact complete codified instructions on documentary credits can be had only through joint readings of the UCPDC and universal commercial codes (UCC). Despite the support of uniformity and standardization provided by provisions of UCPDC and UCC disputed transactions have grown multifold in maritime trade. Some of these disputes were genuine trade disputes and could be resolved by fulfillment of deficiencies whereas a good number of them were categorized as trade malpractices with the primary objective of defrauding the other part(ies).It is the latter category of documentary credit transactions which forms the focus of this paper and the general leeway given to fraudulent parties by English ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Banking and Insurance Law Essay Example | Topics and Well Written Essays - 2750 words”, n.d.)
Banking and Insurance Law Essay Example | Topics and Well Written Essays - 2750 words. Retrieved from https://studentshare.org/miscellaneous/1530244-banking-and-insurance-law
(Banking and Insurance Law Essay Example | Topics and Well Written Essays - 2750 Words)
Banking and Insurance Law Essay Example | Topics and Well Written Essays - 2750 Words. https://studentshare.org/miscellaneous/1530244-banking-and-insurance-law.
“Banking and Insurance Law Essay Example | Topics and Well Written Essays - 2750 Words”, n.d. https://studentshare.org/miscellaneous/1530244-banking-and-insurance-law.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Banking and Insurance Law

INSURANCE LAW

...?Insurance Law Question 1A: P&I and H&M Protection and indemnity (P&I) together with hull and machinery (H&M) are the two main types of marine insurance coverage.1 H&M is for the most part property cover in that its purpose is to insure the vessel’s actual value or any cost incurred relative to repairing or replacing the vessel. The hull refers to the ship itself and includes the ship’s engine. The hull also refers to the ship’s bunkers or fuel.2 In other words, H&M provides protection of the “shipowner’s investment”.3 P&I covers third party liabilities which are not a part of the H&M cover and as such compliments H&M insurance cover. Additional complimentary features arise out of cargo claims coverage. A shipowner’s liability relative...
20 Pages(5000 words)Coursework

Insurance Law

.... (1998). Islamic Insurance: Sudan to Singapore. Asian Business Law Review, 19: 62-68. Manjoo, Faizal (2007). Why Different Takaful Models in the World? No. 10. icmif takaful.coop. Saudi Arabian Monetary Agency. Insurance. Available at www.sama.gov.sa/en/insurance/. Saleh, Nabil A (1986). Unlawful Gain and Legitimate Profit in Islamic Law. Riba, Gharar and Islamic Banking. Cambridge University Press: Cambridge. Sharif, Kamaruddin. (June 19-20 1997). The Islamic Insurance Business: A Case of Malaysia. Labuan International Summit on Takaful, Labuan, Malaysia. Stagg-Macey, Catherine (2007). An Overview of Islamic Insurance. No. 8. icmif takaful. Siddiqi, Muhammad Nejatullah, 1971. “Economics of Islam,” Islamic Thought, 14 (Number 3), 22-33...
6 Pages(1500 words)Dissertation

Marine Insurance Law

...? Marine Insurance Law By s Due Marine Insurance law is developed through legislation andcases. The Marine Insurance Act, 1906 is the legislation that provides us with the basic framework on which the Marine Insurance law operates. Second primary source of this law is the case law formed by precedents. Precedents are the decisions for cases having specific circumstances and these decisions bind the judges to adjudge the future similar cases in the same manner. There are also some precedents that are not binding on the judges but can be used for guidance. A very important aspect of Marine Insurance law is the risk of ‘perils of the seas’. In maritime journeys, the risk of perils of the sea is the most probable risk to the ship. It is very...
9 Pages(2250 words)Essay

Banking law

Thus Alice clearly intended to rely on Beatrice’s expertise as a financial advisor. In a typical case, where a fiduciary relationship is created such as the one between Alice and Beatrice, the fiduciary’s (Beatrice) discretion to manage the funds is limited by contract.2 The terms of the contract are not revealed by the facts of the case for discussion. The only know term is stated in broad terms: to build an investment portfolio. Regardless, fiduciary duties are typically provided for in standard contract forms. These duties usually include the no conflict rule, a duty of loyalty, the rule against personal profits and confidentiality rules.3 Despite the fact that the fiduciary duties are typically detailed in the standard form o...
8 Pages(2000 words)Essay

Banking law

...? To what extent do you think the "independent legal advice" requirement has proved to be an obstacle to banks taking security who may be ified as vulnerable? Introduction Vulnerable securities in banking law refer to guarantors or sureties who may have been or may be at risk of exploitation in.1 The risk of exploitation may arise in circumstances where the guarantor or surety can be said to have made a mistake, or acted on a misrepresentation, or was under duress or undue influence or was subject to “unconscionable dealing”. 2 In this regard, vulnerability refers to a party who is especially disadvantaged on account of “illness, ignorance, inexperience, impaired faculties, financial need or other circumstances” that can impact...
8 Pages(2000 words)Essay

Banking Law

... movement of money. Thereby leading to the temptation to spend more if the customer has a cheque card. A high degree of risk is taken by those who circulate these cards. 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. The point of law that came under discussion in the matter of Reg. v Charles...
10 Pages(2500 words)Case Study

Agency and insurance Law

...Agency and Insurance Law Case I Drew and Bev are employed by Kirk as his sales assistant in his business of selling building and decorating suppliesand related products hence they are his agent. An agent is a person employed expressly to do any act for another or to represent another in dealing with a third party. Kirk on the other hand is the principal. Principal is a person who employs another to contract on his behalf. The relationship that occurs between the principal and the agent is known as agency. In Agency, the act of an agent, done within the scope of his authority binds his principal. The work of an agent is to linking the principal with a third party bringing about a contractual relation between his principal and a third party...
5 Pages(1250 words)Case Study

Insurance Law

...Insurance Law Background Information This is a law paper that discusses the emerging issues in reference to insurance law, in Europe. It is evident that the region’s community organization is not comfortable gender inequalities arising in different fields of life. Calculations of insurance premiums as well as, insurance benefits are one of these key areas. They also entail healthcare among others. Law bodies have been working on designing suggestions to improve the situation at hand. It has impacts in different nations both which have incorporated the idea in their legislation and those who are yet to take the step (Felipe, 2010). Introduction This is a term that refers to undertakings encompassing insurance. These include insurance...
9 Pages(2250 words)Essay

Insurance law

al law of contract.2 This essay discusses the relevance of the doctrine of utmost good faith in the face of a fast-changing business environment that requires flexibility and equal commitment from all parties to a contract. In order to achieve this, the author provides a background to the topic, and discusses the application of the doctrine in face of both the insurance and contract laws. Stages of the contract process are then interrogated to seek the different and similar requirements that necessitate application of the doctrine. Further, the views of scholars on the doctrine are explored so as to shed light on the apparent controversy that the doctrine has created among researchers and practitioners. The author remarks that the...
17 Pages(4250 words)Research Paper

Insurance law

...Insurance law Introduction Insurance can be defined as a contract between two parties, where one party commits itself to pay (indemnify) the other party in case the other party suffers a predetermined risks. The uncertainty surrounding the current life people live has forced people to apply for insurance policies. However, some policies are mandatory as per the constitution of America; for instance, one has to have an insurance cover for any automobile. Classification of insuranceInsurance are classified based on the risk and compensation is done. There are three main types of insurance based on compensation: 1. Third-party insurance-this type of insurance covers the risks for the other party who has incurred a predetermined loss caused...
3 Pages(750 words)Research Paper

Law of Financial Services

For instance, the European Commission’s Regulation No. 1049/2001 which very specifically details rules and regulations governing the public access to European Parliament, Council and Commission documents. Article 8 of the regulation states that “personal data shall only be transferred to recipients … (b) if the recipient establishes the necessity of having the data transferred …” (Regulation 1049/2001). Although this law is not at all related to the data protection of banks and their customers, it does give us an impression of how serious the EC is in protecting the integrity of data.
In saying that the laws that we have on data protection have adequately addressed the needs of banks and custom...
6 Pages(1500 words)Article

Organization and Functions of Federal Law Enforcement Agencies

Threats may either appear in the form of terrorism or from other intelligence groups or from the espionage. It may arise within the country, against the existing government or social systems. Though most of the federal law enforcement groups are investigative groups, they are not only focused on investigations but stand for the people. One can see that the importance of the federal agencies is growing day by day because the threats from militants and others have considerably increased. Such kinds of federal law enforcement agencies include Federal Air Marshalls, Secret Service, FBI, Untouchables, C.I.A and Federal Corrections etc. The organization and functions of these agencies vary in different fields and can be cited in the fol...
7 Pages(1750 words)Case Study

Constitutional and Administrative Law

When examining the decision of previous court comments that are made obiter dicta will not be part of the precedent since often obiter dicta comments are speculative remarks on how the judge might have acted if the facts had been different.

Binding precedents come from earlier case law and, as suggested in the wording, must be followed even if the judge in the present case does not agree with the legal reasoning of the judge in the earlier case. In order for a precedent to be binding the facts of the present case to have to be sufficiently similar to the earlier case. Decisions given in a lower court to the one in which the present case is being heard will not be binding. For a decision to set a precedent it must have b...
8 Pages(2000 words)Assignment

International Law: Child Soldiers

Using children to fight wars is not only morally abhorrent but very bad very the physical and mental health of the children in question. That is in part why a series of international laws and treaties have come into effect to try to deal with this scourge. But the issue is more complicated than that. While child soldiers are victims of war crimes, they too can also perpetrate serious breaches of the law of armed conflict. Under normal circumstances, individuals who commit such acts, be they combatants or not,2 would be vulnerable to prosecution. However, because children in such situations are victims as well as perpetrators and because of the special protections afforded to children under international law, many have questioned w...
8 Pages(2000 words)Case Study

The Functions of Modern Central Banking

It now directs and supervises banking activities through a complex set of tools and instruments that embody the country’s monetary policies.
Central banking can be traced to the 17th century Swedish Riksbank. The bank was created in 1668 as a joint-stock bank and helped the Swedish government with its monetary needs as well as serve as a clearinghouse for commerce. Just a few decades after, or in 1694, England established its own joint-stock bank called Bank of England. It was established primarily to buy the country’s debts. Other European countries soon followed and established their own national banks not only to serve their debts but also to solve monetary disarray as in the case of France’s Banque de Fr...
7 Pages(1750 words)Case Study

The Law and the Media

New and complex issues have arisen which demanded fresh understanding and handling of cases involved them. This has resulted in the enhanced development of specialized laws e.g. cyber laws and interpretation of those laws. The same is true with Media Laws. Media has developed much in the last half-century. As it evolved as a profession and more people started to join it, there arose the levels of money involved in it. With this grew the contractual obligations on the parts of parties and concerned laws e.g. patent laws, privacy laws, and copyrights laws, etc. also started to play their parts. With these issues, the role of law in the media industry also reached a new height.
Mathew Fisher, the appellant, joined a band with Mr...
6 Pages(1500 words)Assignment

Lack of Health Insurance for the Mentally Ill

Worse, because the family sometimes cannot afford to cover their medical expenses, these mentally ill patients end up with no medical care at all; they are forced to suffer the debilitating symptoms of their mental illness and to be subjected to worsening mental and general health conditions.
This paper shall discuss the lack of insurance among mentally ill patients. It shall first describe the mental health issue and the student’s position on such an issue. This paper shall also explain why this position is important and the relevance of the position to nursing practice, the mentally ill, and society. The rationale of this position shall be clearly explained and two factors that contribute to this issue shall be identi...
8 Pages(2000 words)Assignment

Law of Contract

For instance, in Partridge v Crittenden, it was held that an advertisement is tantamount to an invitation to treat (Partridge v Crittenden, 1968). However, there are exceptions, where an advertisement is considered to be an offer. An example is provided by the Carbolic Smoke Ball case. In this case, the defendant’s contention that its newspaper advertisement was not an offer was rejected by the court; as the plaintiff had complied with the terms of the offer (Carlill v Carbolic Smoke Ball Co, 1892).

Thus, the advertisement placed by Adams in the local newspaper is an invitation to treat and not an offer, as per the case law discussed above. It is to be determined, whether Adam had formed legally binding contracts...
6 Pages(1500 words)Case Study

The Relationship Between Common Law and Custom, Equity, and Books Of Authority

This follows the common law theory that cases that have a great deal of similarity should need to be dealt with similarly and decisions or court verdicts passed accordingly, although this may not be viewed as strict practice. Custom, as a historical source of law, could be said to be the legislative statutes or laws that need to be implemented from time to time, and could also be termed as statutory laws that monitor public conduct. Thus, it could be said that while regulatory laws are created and nurtured by legislations and regulations, through the executive powers enforced by executive branch agencies, this is done through the delegation of authority from the top downwards. However, in the case of common law or case law, decisi...
6 Pages(1500 words)Assignment

Analysis of Employement Law Cases

For instance, Section 82(1) of the Sex Discrimination Act 1975 provides statutory protection to workers who are working under a contract personally to execute any work or labor. It also covers self-employed people2.

Other statutes, such as the Working Time Regulations 19983 and the National Minimum Wages Act 19984, are appliable to workers, in addition to employees5. Hence, all these rights and protections are available to Fred, even if he were to be deemed a self-employed person.

Some of the more important rights bestowed upon employees by the employment law are the right to claim wrongful or unfair dismissal and payment for redundancy. Other legislation, such as the health and safety statute and the insolve...
7 Pages(1750 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Banking and Insurance Law for FREE!

Contact Us