Multiple choice

The relationship between a banker and a customer is primarily that of a

  1. debtor and a creditor

  2. bailor and a bailee

  3. trustee and a beneficiary

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The primary relationship between banker and customer is debtor-creditor. When a customer deposits money, the bank becomes the debtor (owes money to customer). When a customer takes a loan, the relationship reverses. Other relationships like bailor-bailee (for safe deposit) or trustee-beneficiary (for trusts) are secondary and specific to certain services.

Keep practicing — related questions