Class notes
LIOP3724 Introductory Notes
- Institution
- University Of The Freestate (UFS)
This is a comprehensive and Detailed introductory note for this course. Essential!!
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UNIT 4LIOP3724
Chapters 15 and 17 in Malan on Bills of Exchange, Cheques and Promissory notes,
Newspaper reports and class notes
(These slides provide an outline to the key aspects of the chapter and will be
supplemented through the lecture on Monday 5 October 2020)
,Revision of last lecture
• We covered the holder:
1. What is a holder and what is a holder in due course?
2. The position of a holder in due course is interesting because it departs from
established legal position in law of things.
3. A holder acquires ownership even when she acquires it from someone who
is not the owner.
4. The holder in due course is presumed to be the creditor on the document.
This is a strong position and certain requirements must be met to qualify as
a holder in due course.
5. We looked at these requirements and looked at the duties of the holder as
well as the defences that are available/ not.
,Introduction
• This unit relies on chapters 15 and 17 of the textbook.
• Because cheques are being discontinued at the end of 2020, we will
leave everything relating to the crossing of cheques.
• The first three outcomes in the studyguide are what we will focus on:
1. Critically discuss and apply legal provisions regulating the banking and
customer relationship, the liability of collecting banks and the essential
elements of the different types of negotiable instruments.
2. Describe why the Reserve Bank plays an integral part of the South African
economy.
3. Critique the fundamental principles underpinning Banking Law concerning
the realisation of a just society in South Africa.
• Read the following article:
, Introduction to Banking Law
• Banks play important role in the functionality of the economy.
• Commercial Banks: Banks Act 94 of 1990
• Mutual Banks: Mutual Banks Act 124 of 1993
• Co-operative Banks: Co-operative Banks Act 40 of 2007 (take
note…also qualifies as a bank for purposes of the BEA)
• Banking law regulates the registration, functionality and the
day-to-day activities of banks. In addition, it regulates the
relationship between the bank and its client.
• Bank Law is not a separate legal field = Law of obligation
(contract and delict) + Property Law.
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