LW2206 End of Term Quiz

Who owns the money deposited in a bank account?

• The customer

• "It is the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with him when he is asked for it” - Foley v Hill (1848)

• The Central Bank of Ireland

• The government

How is the bank/customer relationship terminated?

• By the customer

• By the bank

• By operation of law

• All of the above

What is the case of Tournier v National Provincial and Union Bank of

England [1924] 1 KB 461 about?

• The duty of disclosure in insurance law

• The bank's duty of care when giving advice

• The bank's duty of confidentiality

• The customer's duty of confidentiality

Which case accepted the approach in Tournier v National Provincial and Union Bank of England [1924] 1 KB 461 in Ireland?

• Walsh v National Irish Bank (2013)

• Tai Hing Cotton Mill v Lui Chong

  Hing Bank (1986)

• London Joint Stock Bank v Macmillan (1918)

• Greenwood v Martin’s

  Bank (1933)

According to Tai Hing Cotton Mill v Lui Chong Hing Bank (1986), does the customer have a duty of care to check their bank statements for fraud?

• Yes

• No

• Maybe

• I don't know

What is NOT an example of a payment mechanism?

• Card Payment

• Direct Debit

• Cheques

• A pledge

Which of the following is NOT an example of a security interest?

• A pledge

• A lien

• The Digital Euro

• A mortgage

What was the case of Macaura v Northern Assurance (1925) about?

• Whether the plaintiff had an insurable interest in the property

• Whether insurance contracts were illegal under the Gaming Act 1845

• Whether the plaintiff was a consumer

• The doctrine of uberrima fides

An insurance contract that protects against a risk that might never occur is called:

• First party insurance

• Third party insurance

• Indemnity insurance

• Contingency Assurance

What is an area of insurance law impacted by the Consumer Insurance Contracts Act 2019

• The requirements for an insurable interest

• The consequences of misrepresentation

• The duty to disclose

• All of the above