The law and practice of banking - J. Milnes Holden

Since the fourth edition was published Parliament has passed a number of statutes affecting bankers, the chief among them being the Financial Services Act 1986, the Banking Act 1987 and the Companies Act 1989. The Financial Services Act 1986 with special reference to its implications for bankers is considered and the relevant provisions of the Banking Act 1987 are referred to.;There have also been a number of relevant legal decisions, and the text discusses two cases involving the loss or theft of a large amount of travellers' cheques, namely, Braithwaite v Thomas Cook Travellers Cheques Ltd (1989) and Elawadi v Bank of Credit and Commerce International SA (1989). In the former case, the plaintiff's claim for reimbursement failed, whereas in the latter case the claim succeeded.;Electronic banking has received considerable publicity as a result of the phased introduction of EFTPOS (Electronic Funds Transfer at Point of Sale), and is discussed, as are two other systems: the company now known as BACS Limited who provides an automated money transfer service, and the system known as CHAPS (Clearing House Automated Payments System) which came into operation in 1984 for the purpose of making high-value payments of #10,000 or over anywhere within the United Kingdom.;In Appendix 2 the author has set out the Terms of Reference of, and the Recommendations by the Review Committee on Banking Services Law. In an addendum which is published in Appendix 3 he has given an account of those provisions of the Companies Act 1989 which relate to the reform of the "ultra vires" rule.