Question

In executing the standing instructions, there exists a relationship of........

a) Debtor and Creditor b) Trustee and Beneficiary

c) Bailee and Bailer d) Agent and Principal​

Answer 1

Answer:

D)Agent and Principal

Explanation:

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Answer 2

BANKING AND FINANCES

In executing the standard instructions, there exists a relationship of (D) agent and principal.

KEY TAKEAWAYS FOR BANKING:

The type of transaction determines the relationship between a banker and a consumer. Both parties have duties and rights in this banker-customer relationship. The connection between a lender and a customer is more than just a debtor-creditor relationship. They do, however, have other connections.

* When a bank account is opened, the banker assumes the role of a debtor. So long as his account has a credit balance, a depositor is a creditor of his banker.

* When a customer's account is overdrawn, the customer's relationship is reserved.

* The banker becomes a creditor of the client who has taken out a loan from the banker and remains so till the debt is repaid.