Kizito v Equity Bank (U) Limited & Anor
Kizito v Equity Bank (U) Limited & Anor (CIVIL SUIT No. 0036 OF 2013) [2017] UGHCCD 84 (22 June 2017)
The court found that the account in question was opened in the name of the minor, Alpha Holyfield, making her the customer of the bank. The plaintiff and second defendant were signatories as guardians, not as administrators of the estate, and thus had no beneficial interest in the funds. The banking contract was valid as a contract for necessaries for the minor. The plaintiff, as a signatory, had no contractual or fiduciary relationship with the bank that would entitle him to sue for enforcement or reinstatement as signatory. Fiduciary duties arising from the management of the minor's funds a…
Source excerpt
- Fiduciary Duties
- Bank Account Management
- Capacity Of Minors
- Guardianship
- Banker Customer Relationship