Answer to Question #283090 in Law for Comfort

Question

Henry is 17 years old of age and has had an account at your bank since he was 13 years old. He is going to university of Zambia next month to study law. He needs K25000 to spend on various items and special clothing in line with his career path. He is before your office to seek for an overdraft has his father is willing to guarantee the repayment of the stated overdraft even though he believes his son should "stand on his own feet. Discuss the the legal position of this situation. Would your bank extend this overdraft to Henry? [10 marks]

Answer 1

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