Category: finance
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Solution to the Problem of Validity of the POA after the Principle’s Death
Summary of the Problem: the principle issued a formal power of attorney from court authorizing the agent to operate all the principle’s accounts and manage all his investments opened with the banks working in the state, and the POA expressly states that the principle is indebted to the agent and that the agent shall have…
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Solution to the Problem of Termination of the POA by Reason of the Principle’s Death
Summary of the Problem: the principle issued a formal power of attorney from court authorizing the agent to operate all the principle’s accounts opened with the banks working in the state in favor of the principle and not in favor of the agent or any third party, the period of the said POA was 5…
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Solution to the Problem of Different Amounts in Cheques!!
Summary of the Problem: the drawer issued a cheque and delivered it to the beneficiary, the amount in numbers in the cheque was (2,000 US dollars) whereas the amount in words was (Twenty Thousand US dollars), the bank paid twenty thousand dollars to the beneficiary and the beneficiary received the amount. The drawer filed a…
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Solution to the Problem of Late Payment of Returned Cheques!!
Summary of the Problem: According to applicable laws in most countries in the world, a cheque, which satisfies all legal requirements, enjoys full criminal protection, that is to say, if the cheque bounces due to lack of funds or lack of sufficient funds or signature difference, that will constitute a criminal offence and the beneficiary…
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Solution to the Problem of Pegging Currencies to the US dollar !!
Summary of the Problem: In order to understand the problem of money, we must understand the strange stages of making money in human history !! we can display this as follows: In the first age, the human used to give a deer to another human and receive some fruits instead, the human said to that…
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Solution to the Problem of Going to Bankruptcy Hell!!
Summary of the Problem: Most human beings dream of becoming rich but the number of the rich people, with more than one million dollars for each one of them, do not exceed 1.1% of the world’s population and they own about 45.8% of the global wealth! Billions of human beings are the poor. Poverty is…
Faisal Ali Addabi 