CHAPS stands for the Clearing House Automated Essay Example

CHAPS stands for the Clearing House Automated Essay 1.Whether it Must Re Credit the ?10,000 to Dave’s Account It is first of import to understand how the CHAPS system works. CHAPS stands for the Clearing House Automated Payments System. It is the United Kingdom’s same-day payments system, a guaranteed irrevokable countrywide electronic sterling recognition glade and colony system, used chiefly for high-value payments. The CHAPS payment direction comprises the name of the payee, the sum of the payee, the sum of the payment, the particular sorting codification figure of the payee’s bank and the subdivision to which payment is to be made, and the payee’s history figure. Similar information must be given about the payer’s history so that the history may be debited on the computerised record of the histories of the paying bank’s client and so that the payee can be informed. We will write a custom essay sample on CHAPS stands for the Clearing House Automated specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on CHAPS stands for the Clearing House Automated specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on CHAPS stands for the Clearing House Automated specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Cash bank as an agent of Dave have a responsibility to transport out its responsibilities with sensible accomplishment and diligence. This responsibility is expressed in legislative act, in subdivision 13 of the Supply of Goods and Services Act 1982 and besides exists at common jurisprudence. Steyn J, in Barclays Bank V Quincecare: [ 1 ] â€Å"Prima facie every agent for wages is besides bound to exert sensible attention and accomplishment in transporting out the direction of his principle†¦ . There is no logical or reasonable ground for keeping that bankers are immune from such an simple duty. In my opinion it is an implied term of the contract between the bank and the client that the bank will detect sensible accomplishment and attention in and about put to deathing the customer’s orders.† The bank must hold existent authorization to pay, in this instance the bank has no authorization to pay the extra ?10,000. A Banker who pays the incorrect sum is surely apt to the client for any extra over the sum named in the original authorization. In claims between bank and client for unlawful payment, some common jurisprudence defense mechanisms are available to the paying bank every bit good as the protections given by statue. There is besides an just defense mechanism which allows the bank to debit the customer’s history in some state of affairss, despite wrong payment. The most of import of these is the just defense mechanism established in the instance of B Liggett ( Liverpool ) Ltd v Barclays Bank Ltd. [ 2 ] This will originate as a defense mechanism where the payment was made in satisfaction of a debt owed by the client to a 3rd party. This means that the bank is taken to hold made the payment on the customer’s behalf, so that the client may non challenge the debit. In Liggett’s instance, a bank, contrary to its authorization, honoured a company’s checks signed by one manager merely. The checks were drawn in favor of echt trade creditors, so that in consequence the bank had paid the company‘s debts. The company disputed the bank’s right to debit its history, claiming that the payment by the bank had been strictly voluntary, so that at common jurisprudence it could non retrieve the payment from its client. Wright J held that by virtuousness of the just philosophy the bank was entitled to stand in the topographic point of the creditors who had been paid and it could take advantage of the payment ; it was as if the company had simply changed its creditor ; it had non increased its liabilities. In order for the philosophy to run, it must be unconscientious for the client to retain the benefit of the discharge of debts by a 3rd party who has acted in good religion and in the beliefs that it has the necessary authorization [ 3 ] . So far as the regulation operates, it relates merely to Bankss ; there is no general philosophy that a 3rd party who pays another person’s debts without authorization is entitled to be reimbursed by the debitor. If the debt truly owes from the client, this defense mechanism has many advantages as it prevents unfair enrichment of the client and avoids the possibility of several jurisprudence suits. The bank merely maintains its debit to the client, and the payee retains the payment. Therefore in the state of affairs it would look that the bank may be able to debit the history of Dave and hence retrieve their â€Å"loss.† 2.Whether it May Recover the Overpayment from Edward A bank may pay money to a payee without authorization from its client because of an administrative mistake. If it is non protected by estoppel or some statutory defense mechanism, the bank may be unable to debit its customer’s history and be apt to the true proprietor of the check and may so seek to retrieve the sum wrongly paid from the receiver [ 4 ] . This is the state of affairs that has arisen here. If one individual pays money to another under a error of fact or jurisprudence, which caused him or her to do the payment, he or she is leading facie entitled to retrieve the money paid under a error [ 5 ] . Mistake ( or unfair enrichment ) merely allows recovery without scrutiny of mistake, until the point at which defense mechanisms are considered ; the Claimant can even retrieve despite its ain carelessness [ 6 ] . There are nevertheless certain demands that must be fulfilled, and these will be dealt with in bend. The first demand is that the money must hold been paid under a error. There has clearly been a error here as the money that should hold been transferred was ?10, 0000 and the money that has really been transferred was ?20,000. The 2nd demand is that the error must hold caused the payment. The relevant inquiry is whether the payment would hold occurred if the remunerator had non made the alleged error ( whether the error is one of fact [ 7 ] or of jurisprudence [ 8 ] ) . Therefore, if a payment under a error, and the remunerator is cognizant that the payment is non due, the remunerator may still retrieve the payment provided it would non hold been made but for the error [ 9 ] . The jurisprudence looks at whether or non the payee has been enriched at the disbursal of the remunerator. The payee so has the chance to raise any defense mechanism available, associating to the value given, or any hurt suffered by the payee, which would do it unfair for him or her to hold to return the payment. The consequence must be that by ground of the error the payee has been unjustly enriched. Furthermore the payee need non now of the error [ 10 ] . The 3rd demand is that the payment must non be within the authorization. If the payment was within the bank’s authorization from its client, the bank can non retrieve, because a debt is thereby discharged between bank and client. Therefore based on the information it would look that Cash bank and Dave may be able to claim the money that has been wrongly transferred to fidelity bank and Edward. This is because there is no demand that the Defendant be at mistake, and liability is hence rigorous. However there are defense mechanisms that can be raised and one of them in specific is of import to this scenario. Bona fide purchase will be a defense mechanism. A receiver who had given consideration for the payment is a bona fide buyer for value and the payment can non be recovered. If the payment is made for good consideration peculiarly – if it is paid to dispatch, and does dispatch, a debt owed to the payee by the remunerator, or by a 3rd party by whom he or she is authorised to pay the debt – the Bankss claim will neglect [ 11 ] . The defense mechanism of a bona fide purchase is a complete defense mechanism, irrespective of the existent value of consideration given [ 12 ] . If this defense mechanism failed, which seems improbable Edward would besides hold the defense mechanism of alteration of place. Change of place is a defense mechanism to all restitutionary claims [ 13 ] the defense mechanism that the suspect has changed his or her place in good religion in such a mode that he or she would endure an unfairness if called upon to refund the money wholly or in portion. The unfairness of necessitating the suspect to refund the money would so outweigh the unfairness of denying the complainant damages. Lord Goff said that he was dying non to suppress the development of the defense mechanism on a instance by instance footing in the usual manner. Nevertheless, some facets may already be normally accepted and there are some indicants as to the manner in which the jurisprudence may develop. The mere fact that money has been spent is non plenty ; there needs to be some hurt in the outgo. For illustration, if the receiver has used the money for a purchase which would non otherwise have been made, the defense mechanism should be available, because he or she has acted to their hurt on the religion of the gift [ 14 ] . It is hence improbable that the Bank will be able to retrieve the money that it has paid from Edward. 3.Whether It May Recover the Overpayment from Fidelity Bank The place is much the same for recovery from Fidelity Bank as it was from Edward in so far as that Cash Bank seem to fulfill all of the elements to let it to do a claim as â€Å"money paid under a error of fact or law.† It is non intended that these stairss will be repeated as the place is precisely the same for Fidelity Bank as Edward’s agent as it was for Edward. Prima Facie therefore it would look that Cash Bank may be able to retrieve the money from Fidelity Bank. However as with Edward there may be a defense mechanism unfastened to Fidelity Bank. The state of affairs that may be unfastened to them is that of ministerial reception. If the payment is made to an agent ( .i.e. the Fidelity Bank ) who has so passed the money to his or her chief before acquisition of the error, merely the principal and non the agent can be sued [ 15 ] . For this defense mechanism to win there are certain conditions that must be satisfied. Fidelity Bank must hold received the money bona fide because otherwise it would be conscienceless to retain it [ 16 ] , and it must hold had no notice of the Claimant’s claim before it disposed of the money. It must be able to demo that payment to the principal has really been made [ 17 ] . If payment has been made candidly, so fidelity bank will non be apt. Therefore if Fidelity Bank can demo that they did non become cognizant of the error before the money was placed in Edward’s history so they will non be apt to return to Cash Bank the money. Bibliography Cases B Liggett ( Liverpool ) Ltd v Barclays Bank Ltd [ 1928 ] 1 K B 48 Barclays Bank v Simms A ; Cooke [ 1979 ] 3 ALL ER 522 Barclays Bank V Quincecare [ 1992 ] 4 ALL ER 363 Buller V Harrison ( 1977 ) 2 Cowp 565 Crantrave Ltd v Lloyds Bank, The Times, April 24 2000 Calcium Holland V Russell ( 1861 ) 1 B A ; S 424 John v Dodwell A ; Co [ 1918 ] AC 563 Kelly v Solari { 1841 ) 9 M A ; W 54 Kleinwort Benson Ltd v Lincoln City Council [ 1998 ] 4 ALL ER 513 Larner 5 London County Council [ 1949 ] 2 K B 683 Lipkin Gorman v Karpnle Ltd [ 1991 ] 2 AC 548 Lloyds V Independent Insurance Co Ltd [ 1999 ] Lloyds Rep Bank 1 at Moses v Macferlan ( 1760 ) 2 Burr 1005 National Westminster Bank Ltd v Barclays Bank International Ltd [ 1975 ] 1 B 654 Nurdin A ; Peacock Plc v D B Ramsden A ; Co Ltd [ 1999 ] 1 ALL ER 941, Ch D Rahimtoola V Nizam of Hyderabad [ 1958 ] A C 379 Reckitt V Barnett, Pembroke and Slater Ltd [ 1929 ] AC 176 Re Cleadon Trust Ltd [ 1939 ] 1 CH 286 Re Jones Ltd V Waring and Gillow Ltd [ 1926 ] AC 670 Turvey V Dentons ( 1923 ) Ltd [ 1953 ] 1 Q B 218 Books Cranston R, ( 2002 ) â€Å"Principles of Banking Law† , Oxford University Press Ellinger E, Lomnicka E A ; Hooley R, ( 2002 ) â€Å"Modern Banking Law† , Oxford University Press Penn G A ; Wadsley J, ( 2000 ) â€Å"The Law and Practice of Domestic Banking† , Sweet and Maxwell 1

010 Intro to Report and Quoting Professor Ramos Blog

010 Intro to Report and Quoting Reflection Reflection Reflect on the writing process for your first essay. Answer these questions: What did you do well in your essay? What are the strengths and weaknesses of your essay? Where did you struggle, if at all? Intro to Report Reports are as diverse as all the classes you will take. You can write a report on a lab experiment, conduct interviews and assemble into a report, and even research a topic and publish it for the benefit of everyone. Reports are a genre that you may be familiar with but not know it. Reports are what we have done since elementary school. Reports are produced by government organizations, websites, companies, universities, and even individual students like yourselves. A report can answer a question, explore a topic, review what is already known about a subject, or report new knowledge, to name a few. There are a few qualities that a report usually has: Presents information Uses reliable sources Aims for objectivity Information is clear and well structured For this assignment, I want you to choose a topic that interests you and you want to learn more about. It can be related to your major, future or current career, something you are familiar with, or something you want to know more about. You can research a problem that you want to know more about. We will learn to research the library databases in order to find reliable sources of information. Subgenres of Report The report can be in any style or format that you think best suits it. If you choose to do a PowerPoint, that is your report. You do not need to write a separate report, the PowerPoint should have all the information on it. Here is a list of possible choices: Research Report –What it takes to be a teacher Visual Essay PowerPoint –  Mexican-American Report Wikipedia  style entry Featured Article  in Newspaper Infographic,  Torture,  Very Infographic Other, cleared by Professor The Conversation Review We spent the first couple of weeks talking about the conversation. What was the ongoing conversation?  How is it connected to a report? Brainstorming Let us brainstorm some ideas. We first need to choose a topic to write about. Build from lists Mapping ideas Freewriting Memory Prompts Search online for ideas Come up with at least two ideas that you want to write about. They can be general now, they will become more focused as you begin the research. Quick Write What two topics are you considering for your report? List the topics you came up with in class. The Art of Quoting Chapter 3, introduces us to the art of quoting. It warns that quoting too little or too much can hurt an argument. It is very important to frame all quotations. According to the book, what is the purpose of a citation? When is the use of a citation appropriate? The article warns about quoting too little or quoting too much. Do not assume the quotations speak for themselves. Two key ways to integrate quotations that you need to keep in mind. Choose quotations wisely Surround quotations in a frame, Quote Sanwich Quote Sandwich Introduce the quotation p. 46 Quote, relevant Explain Quotation p. 47 Claims China  is the largest nation in the world. A McDonald’s  Big Mac ®Ã‚  has 550 calories. Why do these need support? Where can you find it? Practice Use a quote from the article in a quotation sandwich.

Nursing Theory Essay Example | Topics and Well Written Essays - 1500 words

Nursing Theory - Essay Example As the report declares the Roy Adaptation Model has both scientific and philosophical aspects. The scientific aspect of the model Is systems of matter and energy progress to higher levels of complex self-organization. This discussion stresses that John B. Watson was a behaviorist and therefore he emphasized the study of observable behavior. His nursing model, rejected introspection &theories of the unconscious mind. The scientific and philosophical aspects of his nursing model were similar because of this. He described behavior in terms of terms of physiological responses to stimuli. Barone et al 1996. His theory and nursing model was primarily concerned with the increasing or decreasing of the likelihood of given response by manipulating the consequences of the response. Although Watson’s model is not very large on the philosophical tenets he did have a legitimate nursing model that is still implemented and taught in many schools of nursing to this day. Although both Roy’s and Watson’s models are widely accepted and taught there are some who argue that these models are not feasible. In regard to Roy’s model there are arguments that contend this model is in a sense to l iberal to work. By that it is meant that the model is too personalized and requires a one on one implementation of the model for it to work. Those who reject this model feel that it is not feasible for a nurse with other duties and obligations to have the time to render this type of aide to patients.