Stuff you should know: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{a|devil| | {{a|devil| | ||
[[File:101.jpg|450px|frameless|center]] | [[File:101.jpg|450px|frameless|center]] | ||
}}In a desperate attempt to stop [[salespeople]] going, “hey [[legal eagles]], can you read this email for me”, and to counterpoint lackadaisical [[credit officer]]s saying, “the question of whether we have credit risk to that bank account is a legal question on which I can’t opine”<ref>Real-life quote, by the way, from a [[managing director]] in a global investment bank, to which the retort ''should'' have been, but I regret to say was not, “pal, if you are really saying you don’t know that, you need to [[get your coat]]”.</ref> we are running a snagging list of legal concepts no | }}In a desperate attempt to stop [[salespeople]] going, “hey [[legal eagles]], can you read this email for me”, and to counterpoint lackadaisical [[credit officer]]s saying, “the question of whether we have credit risk to that bank account is a legal question on which I can’t opine”<ref>Real-life quote, by the way, from a [[managing director]] in a global investment bank, to which the retort ''should'' have been, but I regret to say was not, “pal, if you are really saying you don’t know that, you need to [[get your coat]]”.</ref> we are running a snagging list of legal concepts about which no bank employee should plead ignorance. ''It is your job to know this stuff''. | ||
[[Stuff you should know]], banker’s edition, then: | [[Stuff you should know]], banker’s edition, then: | ||
Revision as of 11:09, 29 September 2020
|
In a desperate attempt to stop salespeople going, “hey legal eagles, can you read this email for me”, and to counterpoint lackadaisical credit officers saying, “the question of whether we have credit risk to that bank account is a legal question on which I can’t opine”[1] we are running a snagging list of legal concepts about which no bank employee should plead ignorance. It is your job to know this stuff.
Stuff you should know, banker’s edition, then:
- How agency works and why you can’t be agent for yourself;
- The nature of cash and indebtedness;
- The difference between shares and bonds, and the corporate capital structure;
- What is a trust;
- How bank accounts work, and why banks don’t keep your money in a little jar with your name on it (in part because, per the nature of cash, they can’t);
- The nature of the deal: offer, acceptance and consideration;
- Amendment and waiver;
- How set-off works, and more particularly, when it doesn’t;
- How security works and why it is different from trust;
- The difference between title transfer and pledge;
See also
Derivatives as explained to my neighbour Phil
References
- ↑ Real-life quote, by the way, from a managing director in a global investment bank, to which the retort should have been, but I regret to say was not, “pal, if you are really saying you don’t know that, you need to get your coat”.