Hong Kong Securities Ordinance and the Grocer's Dilemma (Peter Jones, 31 Mar 2000)

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Sender:	Peter Jones
Date:	Fri, 31 Mar 2000 07:19:14 +1200
Re:	Hong Kong Securities Ordinance and the Grocer's Dilemma

Dear All

I wonder if there is a simpler solution to Arianna's problem, in the ordinary law of banking (not often enough considered by judges, I respectfully suggest, in restitutionary claims).

Money deposited, in banking law, becomes the property of the bank and the bank owes a debt back to the customer. So the title does not pass on lodgement as a consequence of the HK legislation.

So when money is taken out, it is *other* money of the bank, in any event, and the grocer gets to keep the payment for the milk and eggs.

Peter Jones
School of Law
University of Waikato

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