Australian banking law 406 (6 points)
(LAW)
Leader: Dr Olujoke Akindemowo
Offered:
Clayton First semester 2004 (Day)
Clayton Second semester 2005 (Day)
Synopsis:
Objectives: Students completing this subject will (1) acquire an understanding of the Australian financial and banking system; (2) be familiar with the general principles of law governing the Australian payments system and negotiable instruments with particular emphasis on cheques; (3) appreciate the legal relationship that exists between customers and their banks and the duties owed to each other; (4) attain a sound grasp of the day to day issues that can arise between banks and customers such as wrongful conversion of cheques, confidentiality, combinations of accounts and appropriation of payments and recovery of money paid mistakenly; (5) be familiar with the banking ombudsman system and mediation of banker-customer disputes; (6) learn to solve problems arising out of the application of statute and case-law to specific banker-customer transactions; (7) identify emerging trends of bankers' liability especially the impact of consumer protection legislation to banking business.
Assessment: 3,000 word research assignment worth 40% of the total mark and a 2 hour final examination (30 minutes reading and noting time) worth 60% of the total mark OR a 3 hour final examination (30 minutes reading and noting time), worth 100% of the total mark.
Contact Hours: Three hours of lectures per week
Prerequisites: LAW1100 Legal Process, LAW2100 Contract
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