The relationship of banker and customer was a single relationship the situation was not one of lien. Buckley LJ said: ‘Nor is it a set-off situation, which postulates mutual but independent obligations between the two parties. It is an accounting situation, in which the existence and amount of one party’s liability to the other can only be ascertained by discovering the ultimate balance of their mutual dealings.’
Lord Denning MR, Buckley LJ
 1 QB 1
England and Wales
Cited – Wade v Grimwood CA 28-Jul-2004
The claimant and the deceased had cohabited for many years. She died intestate, and her mother inherited her estate. His claim had been largely successful, but he now appealed, wanting all the proceeds of sale of the home. The home had been divided . .
Cited – National Westminster Bank plc v Spectrum Plus Limited and others HL 30-Jun-2005
Former HL decision in Siebe Gorman overruled
The company had become insolvent. The bank had a debenture and claimed that its charge over the book debts had become a fixed charge. The preferential creditors said that the charge was a floating charge and that they took priority.
Held: The . .
Appeal from – National Westminster Bank Ltd v Halesowen Presswork and Assemblies Ltd HL 1972
The bank’s common law right of set-off was affirmed. The bank’s appeal succeeded.
The application of section 323 is mandatory in the sense that it cannot be excluded by prior agreement of the parties. . .
Lists of cited by and citing cases may be incomplete.
Updated: 20 April 2022; Ref: scu.211389