Mistaken Payment Of Anothers Debt Is There An Equitable Solution

Download or read book Mistaken Payment of Another's Debt -- Is There an Equitable Solution? written by Struan Scott and published by . This book was released on 2019 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article analyses the situation where a bank mistakenly makes a payment thereby appearing to pay a customer's debt. The Bank may have mistaken believed that there was sufficient funds in the customer's account or it may have overlooked a stop-payment instruction. Common law cases and restitutionary theory suggests that the bank can recover against its customer when the payment was authorized or subsequently ratified; otherwise the bank should seek recovery from the recipient of the payment. This article interprets an alternative line of authority developed by the Courts of Equity, which suggest that authorization or ratification is not necessary.