victoria university melbourne
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All courses for victoria university melbourne
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Accouting for decision making BAO1101 1
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Financial institutaion and monetary theory BEO2000 10
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Law of financial institution and securities BLO3405 11
Latest notes & summaries victoria university melbourne
•	Payment systems 
•	Definitions 
•	‘Payment’ - the tender and acceptance of some act which discharges a monetary obligation 
•	‘Money’ – the quality of money is to attributed to all chattels which, issued by the authority of the law, and denominated with reference to a unit of account, are meant to serve as universal means of exchange in the State of issue.
- Summary
- • 4 pages's •
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Victoria University Melbourne•Law of financial institution and securities
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•	Payment systems 
•	Definitions 
•	‘Payment’ - the tender and acceptance of some act which discharges a monetary obligation 
•	‘Money’ – the quality of money is to attributed to all chattels which, issued by the authority of the law, and denominated with reference to a unit of account, are meant to serve as universal means of exchange in the State of issue.
•	Payment under mistake 
•	Common payment mistakes include: 
•	Bank pays a cheque overlooking a stop order 
•	Bank pays a cheque mistakenly believing there are sufficient funds available 
•	Person mistakenly pays an invoice twice
- Summary
- • 6 pages's •
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Victoria University Melbourne•Law of financial institution and securities
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•	Payment under mistake 
•	Common payment mistakes include: 
•	Bank pays a cheque overlooking a stop order 
•	Bank pays a cheque mistakenly believing there are sufficient funds available 
•	Person mistakenly pays an invoice twice
•	Mainly used in International Trade. 
•	Known as a ‘negotiable instrument.’ 
•	Common example is a cheque 
•	Legislation 
•	Bills of Exchange Act 1909
- Summary
- • 5 pages's •
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Victoria University Melbourne•Law of financial institution and securities
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•	Mainly used in International Trade. 
•	Known as a ‘negotiable instrument.’ 
•	Common example is a cheque 
•	Legislation 
•	Bills of Exchange Act 1909
Insolvency 
(a) An insolvent person or business is one that is unable to pay its debts when they fall due for payment. 
(b) For banks, the insolvency of their customers can be significant in terms of the ability of the customers to repay their debts.
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Victoria University Melbourne•Law of financial institution and securities
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Insolvency 
(a) An insolvent person or business is one that is unable to pay its debts when they fall due for payment. 
(b) For banks, the insolvency of their customers can be significant in terms of the ability of the customers to repay their debts.
•	If an Australian exporter sells goods to an overseas buyer, the following problems may arise: 
•	The seller wishes to be paid early, the buyer wants to pay as late as possible 
•	The seller and the buyer will be concerned of the other’s solvency 
•	The buyer will be concerned the goods meet contract specifications
- Summary
- • 5 pages's •
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Victoria University Melbourne•Law of financial institution and securities
Preview 2 out of 5 pages
•	If an Australian exporter sells goods to an overseas buyer, the following problems may arise: 
•	The seller wishes to be paid early, the buyer wants to pay as late as possible 
•	The seller and the buyer will be concerned of the other’s solvency 
•	The buyer will be concerned the goods meet contract specifications
Deregulatory steps taken since 1980's include: 
- removal of official controls on all bank interest rates 
- floating of the exchange rate and removal of exchange rate controls (1983) 
- entry of new players such as foreign banks and new domestic banks (1985) 
introduction of new system of regulation based on prudential guidelines and monitoring ( based on Wallis Report, 1997)
- Summary
- • 2 pages's •
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Victoria University Melbourne•Law of financial institution and securities
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Deregulatory steps taken since 1980's include: 
- removal of official controls on all bank interest rates 
- floating of the exchange rate and removal of exchange rate controls (1983) 
- entry of new players such as foreign banks and new domestic banks (1985) 
introduction of new system of regulation based on prudential guidelines and monitoring ( based on Wallis Report, 1997)
•	Introduction 
•	The banker customer relationship creates a number of contractual duties 
•	Most important duties of banker under the banker customer relationship are: duty to pay cheques and the duty of secrecy. 
•	There are additional duties on the banker where additional services provided
- Summary
- • 6 pages's •
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Victoria University Melbourne•Law of financial institution and securities
Preview 2 out of 6 pages
•	Introduction 
•	The banker customer relationship creates a number of contractual duties 
•	Most important duties of banker under the banker customer relationship are: duty to pay cheques and the duty of secrecy. 
•	There are additional duties on the banker where additional services provided
•	Introduction 
•	Lending by the banker to the customer is usual subject to a written contract 
•	The RBA can make policy statements wrt lending practices however it is rarely used 
•	There are different types of lending practice, and different types of borrower
- Summary
- • 5 pages's •
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Victoria University Melbourne•Law of financial institution and securities
Preview 2 out of 5 pages
•	Introduction 
•	Lending by the banker to the customer is usual subject to a written contract 
•	The RBA can make policy statements wrt lending practices however it is rarely used 
•	There are different types of lending practice, and different types of borrower
Guarantees 
•	‘A guarantee is a promise by which one person, called the guarantor, or surety, undertakes to answer for the present or future obligation of another, called the principal debtor’.
- Summary
- • 5 pages's •
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Victoria University Melbourne•Law of financial institution and securities
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Guarantees 
•	‘A guarantee is a promise by which one person, called the guarantor, or surety, undertakes to answer for the present or future obligation of another, called the principal debtor’.
•	With respect to learning outcomes, you should be able to: 
•	a. Evaluate the functions and activities of commercial banks; 
•	b. Discuss commercial banks’ main sources of balance sheet funds; 
•	c. Discuss commercial banks’ main uses of balance sheet funds.
- Summary
- • 4 pages's •
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Victoria University Melbourne•financial institutaion and monetary theory
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•	With respect to learning outcomes, you should be able to: 
•	a. Evaluate the functions and activities of commercial banks; 
•	b. Discuss commercial banks’ main sources of balance sheet funds; 
•	c. Discuss commercial banks’ main uses of balance sheet funds.