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Banking Law- 20th Sept 2011.Doc Revised 3.

Banking Law- 20th Sept 2011.Doc Revised 3.


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Published by: jemengich on Jan 24, 2012
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The position in the case of a joint account in the name of husband and wife is different.


Where an account is opened by the husband for his convenience, the balance cannot be

claimed by the widow but has to be brought to the estate of the deceased. But where the

intention of the husband by opening a joint account was to make the provision for his wife

in case of untimely death, the widow would receive the money as was held in Marshall Vs

Coutwell. If the banker has been given express instructions to pay the balance to the

survivor, his position would be more secure. So it is advisable for the bankers to take

written directions regarding disposal of the balance in case of death of either party.

However, if the wife dies first, and even if the intention of the parties was not clear, the

banker is justified in paying the balance to the husband.

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