Making Commercial Law: Essays in Honour of Roy Goode

By Ross Cranston; Royston Miles Goode | Go to book overview

14
Banking Networks

ROSS CRANSTON

Roy Goode's legal versatility, and penetrating analysis, are evident in banking as in other areas of commercial law. He has covered the traditional areas such as bills of exchange, letters of credit, and the banker-customer relationship in two editions of Commercial Law and in several illuminating articles.1 He has also examined modern banking practices: there is the seminal book on payment, Payment Obligations in Commercial and Financial Transactions ( 1983), his thought-provoking lecture, 'The changing face of banking and finance: some legal implications',2 and his most recent work on securities systems.3

At a more fundamental level, however, is Roy Goode's work on matters such as abstract payment undertakings, markets, and contractual types and structures.4 All banking laywers will benefit from the frameworks used and insights provided, as well as from the conceptual analysis offered. This article draws on some of this deeper work.5 The issue to be addressed is some of the ways in which banks relate to each other. The discussion revolves around legal impact and legal consequences, in this case of various types of interbank relations. These relations are contractual in nature; the concept of the network usefully encapsulates the scope of the discussion.


A. Networks

The network of contracts between banks takes various forms. First, contracts might be part of a chain, as with payment.6 Secondly, the concept of network covers bilateral transactions between banks (a transfer of funds, a

____________________
1
e.g. 'The bank's right to recover money paid on a stopped cheque' ( 1981) 97 LQR 254; 'The banker's duty of confidentiality' [ 1989] JBL 268.
2
( 1989) 27 Osgoode Hall LJ 359.
3
"The nature and transfer of rights in dernaterialised and immobilised securities", in F. Oditah (ed.), The Future for the Global Securities Market ( Oxford: Clarendon, 1996).
4
"Abstract payment undertakings", in P. Cane and J. Stapleton (eds.), Essays for Patrick Atiyah ( Oxford: Clarendon, 1991), and see footnotes below.
5
It is based on parts of my forthcoming Principles of Banking Law.
6
See R. Goode, Payment Obligations in Commercial and Financial Transactions ( London: Sweet & Maxwell, 1983), Ch. 4.

-337-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Making Commercial Law: Essays in Honour of Roy Goode
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 592

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.