BANKING DIPLOMA EXAMINATION
(Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)
Laws and Practice of Banking -JAIBB
Short Notes:GARNISHEE ORDER:
A garnishee
order is an order of a court asking the banker to stop either absolutely
or partially the usual
operation in the account of a particular customer, thereby attaching the funds of the account in the hands of third party or as the court may determine and direct for the disposal of such funds.
operation in the account of a particular customer, thereby attaching the funds of the account in the hands of third party or as the court may determine and direct for the disposal of such funds.
SET OFF:
Set-off is the legal right by which a debtor is entitled to take into account a debt owing to him to the creditor when being sued for a debt due from him to the creditor. In order that this right of set-off may be exercised, the debt must be a sum certain, due by and to the same parties, and in the same right.
