Much ado about nothing? Legal principles on money, bank and their clients after Joint Stock Company Varvarinskoye v ABSA bank Ltd

Abstract

A fairly recent case that involved important issues pertaining to money, banks and their clients was Joint Stock Company Varvarinskoye v ABSA Bank Ltd & Others ([2008] 3 All SA 130 (A) (‘Joint Stock’)). In my analysis I will discuss the role and nature of money and banks, as well as important features of relevant legal principles of banking law. The judgment is considered against this background in order to determine its potential impact and influence on banking law and in general on the business of banks.