Stuff you should know: Difference between revisions
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{{a|devil|}}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 banker in her right mind should be able to plead ignorance. | {{a|devil|}}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 banker in her right mind should be able to plead ignorance. | ||
[[Stuff you should know]], banker’s edition, then: | [[Stuff you should know]], banker’s edition, then: | ||
*How [[agency]] works and why you can’t be agent for yourself | *How [[agency]] works and ''why you can’t be [[agent]] for yourself'' | ||
*The nature of [[cash]] and [[indebtedness]] | *The nature of [[cash]] and [[indebtedness]] | ||
*What is a [[trust]] | |||
*How [[bank account]]s 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''); | |||
*[[Offer]], [[acceptance]] and [[consideration]] | *[[Offer]], [[acceptance]] and [[consideration]] | ||
*How [[set-off]] works, and more particularly, when it doesn’t | *How [[set-off]] works, and more particularly, when it doesn’t. | ||
*The difference between [[title transfer]] and [[pledge]]. | *The difference between [[title transfer]] and [[pledge]]. | ||
Revision as of 10:15, 29 September 2020
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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 no banker in her right mind should be able to plead ignorance.
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
- 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);
- Offer, acceptance and consideration
- How set-off works, and more particularly, when it doesn’t.
- 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”.