The Beneficiary’s Bank and Beneficiary Described by Name and Number: Liability Chain and Liability Standard in Wire Transfers (Part 1)

Authors

Benjamin Geva, Osgoode Hall Law School of York UniversityFollow

Document Type

Article

Publication Date

2004

Source Publication

TSAR (Journal of South African Law). 2004, Volume 1 (2004), p. 1-19.

Keywords

Electronic funds transfers; Tort liability of banks

Abstract

This article deals with issues evolving around the identification of the beneficiary in the last payment order in the credit transfer received by the last bank in the transfer chain ("beneficiary's bank"), the duties of the beneficiary's bank in the case of an ambiguous description of the beneficiary in the payment order, and the liability of the beneficiary's bank in case it broke such duties.

Repository Citation

Geva, Benjamin. "The Beneficiary’s Bank and Beneficiary Described by Name and Number: Liability Chain and Liability Standard in Wire Transfers (Part 1)." TSAR (Journal of South African Law) 2004.1 (2004): 1-19.

Creative Commons License

This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.