Know Your Rights (KYR)

Let's briefly talk about the hallowed principle of fair hearing. Every one is entitled to fair hearing whenever his/her civil rights and/or obligations are in question. But let's break this down a little further. First of all fair hearing simply means that in determining any dispute or conflict, both sides must be heard. In other words, both sides should be given equal opportunity to say their own side of the story. Fair hearing also requires that neither the accuser nor the defender should be a judge in his own case. This principle goes further to state that whoever is deciding or judging the dispute should be neutral, independent, unbiased and impartial. In other words, a person who stands to gain or lose something from the outcome of the case (that is, an interested person) should not be a judge either. The next thing to discuss is when and where this principle of fair hearing applies. Based on the wordings of the Constitution, fair hearing is mandatory whenever a p...

Today we will be discussing further on the relationship between banks and their customers. In today's society, almost everybody has an account with one bank or the other. But have you ever thought about the nature of the relationship between you and your bank?  Let's talk about it. Basically the relationship between banks and their customers is contractual. You see those forms they give you to fill when you are opening a new account, I bet you don't read everything written there especially the parts written in small fonts. But those forms contain important terms which define your entire contractual relationship with your bank as far as that account is concerned. So next time be diligent enough to read the fine print because once you sign and the account is opened, you and your money are bound by the terms on that form until whenever you choose to close the account. Don't forget, ignorance of what was written is not a valid excuse and will not save you in the event ...