SPECIAL TYPES OF CUSTOMERS CUSTOMERS MINOR MARRIED WOMEN
- Slides: 9
SPECIAL TYPES OF CUSTOMERS
CUSTOMERS MINOR MARRIED WOMEN DRUNKARD LUNATICS PARTNERSHIP FIRM JOINT STOCK ACCOUNT JOINT STOCK COMPANY ILLITERATE PERSON
MINOR �Minors are considered as a special type of customer �A person who has not completed the age of 18 is called a Minor. �A Minor must have a parent or guardian to open a bank account.
LUNATICS �A person of unsound mind cannot make a valid contract. �Banker cannot open an account in the name of person of unsound mind.
ILLITERATE PERSON �An illiterate person means a person who can’t sign his name. �So the banker must obtain: �Left Thumb impression. �Details of identification marks should be noted. �Atleast 2 copies of photographs duly attested by any account holder
MARRIED WOMEN �A married women can enter into contract and bind her personal estate. �A Banker may open an account in the name of married women
DRUNKARD § A Drunkard is a person who is so toxicities to be incapable of understanding the nature and effect of contract upon his interest. § A contract with drunkard person is void. § It is advisable for the banker to not allow the drunkard to start an account in his name.
PARTNERSHIP FIRM �A firm account should always be opened in the name of the firm or not in the name of individual partners.
JOINT STOCK COMPANY �A joint stock company is an artificial person. �It has a separate legal entity. �Bank account is opened in the name of company. �Either public limited or private limited company.
