fatema123
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How can a business protect their customers money?

and if a business was to take out a loan, is the bank they are with entitled to take that money?
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Bitesizelaw
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(Original post by fatema123)
How can a business protect their customers money?

and if a business was to take out a loan, is the bank they are with entitled to take that money?
A trust is the most obvious way of protecting customers money. Go back to basic principles regarding the nature of the beneficial interest and enforcement against third parties. Have a look at the case of Re Kayford as an example of how customers money was protected through the use of a trust.

With regard to banks and loans; the classic case on this is Quistclose.

More generally, you need to look at the distinction between personal and proprietary remedies and defences to proprietary claims in particular.

Please give me a 'thumbs up' by clicking on the button below if you find my advice helpful. Thank you. :yy:

Amanda Grant (private property law tutor) a.k.a. BiteSizeLaw
https://www.linkedin.com/in/amanda-grant-bitesizelaw
Last edited by Bitesizelaw; 1 year ago
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fatema123
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(Original post by Bitesizelaw)
A trust is the most obvious way of protecting customers money. Go back to basic principles regarding the nature of the beneficial interest and enforcement against third parties. Have a look at the case of Re Kayford as an example of how customers money was protected through the use of a trust.

With regard to banks and loans; the classic case on this is Quistclose.

More generally, you need to look at the distinction between personal and proprietary remedies and defences to proprietary claims in particular.

Amanda Grant (private property law tutor)
https://www.linkedin.com/in/amanda-grant-bitesizelaw
thank you so much
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