Question

Explain the legal position of the banker with regard to the fixed deposit

Answer 1

There are very many types of accounts that one can own in a bank.

These includes:

Savings Account

Salary Accounts

Fixed Deposit Accounts

These are just a few types of accounts that one can have in a bank , these accounts are given names according to the purposes as to why they are opened and operate.

In this case we are going to initiate on how the accouts operate

Fixed Deposit have got charactersistics which are the legal position of the banker :

• The banker has the ability to determine the the total amount to be deposited , with consideration of the minimum and maximum requirements indicated.

• The amount can only be withdrawn after a period of time

• The fixed deposit accrue some interests and charges at the same time depending on the terms and conditions attached to it.

Answer 2

Answer:

Explanation:

Explain the legal position of a banker with regard to a fixed deposit