BANKING: Banker and customer - Share financing facility - Customer denying utilising facility - Whether share purchases directly instructed by customer - Contract notes, importance of - Customer had no account in broking firms, whether material - Whether customer expressly or impliedly authorised bank’s officers to trade on his behalf - Evidence and proof - Execution of financing agreement - Customer pre-signing blank drawdown notices - Encashment of cheques for trading profits - Whether customer had fully authorised bank to trade on his behalf - Whether such wide authorisation must be express and precise
SECURITIES: Shares - Trading - Share financing facility - Bank customer denying utilising facility - Whether share purchases directly instructed by customer - Contract notes, importance of - Customer had no account in broking firms, whether material - Whether customer expressly or impliedly authorised bank’s officers to trade on his behalf - Evidence and proof - Execution of financing agreement - Customer pre-signing blank drawdown notices - Encashment of cheques for trading profits - Whether customer had fully authorised bank to trade on his behalf - Whether such wide authorisation must be express and precise
