ZIMBABWE BANKING CORPORATION LTD v PYRAMID MOTOR CORPORATION (PVT) LTD 1985 (1) ZLR 358 (S)

1985 (1) ZLR p358

Flynote

Delict — actio legis aquilia — liability for purely economic loss — collecting bank negligently failing to comply with restrictive endorsement on a cheque — whether such is wrongful, founding an action in delict.

Bank — collecting bank — whether owes a duty of care to drawer of cheque.

Bills of exchange — collecting bank — duty towards drawer of cheque — whether to be determined on principles of Aquilian liability or that of intermediate possessor of stolen goods.

Legislation — s 85 Bills of Exchange Act [Chapter 277] — whether defines duty of collecting bank towards drawer of cheque.

Public policy — manner of conducting enquiry into question of social desirability of policy under consideration.