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The Commercial Case Law Index is a collection of judgments from African countries on topics relating to commercial legal practice. The collection aims to provide a snapshot of commercial legal practice in a country, rather than present solely traditionally "reportable" cases. The index currently covers 400 judgments from Uganda, Tanzania, Nigeria, Ghana and South Africa.
Get started on finding judgments that are relevant to you by browsing the topic list on the left of the screen. Click the arrows next to the topic names to reveal a detailed list of sub-topics. Most judgments are accompanied by a short summary written by subject-matter expert postgraduate students from the University of Cape Town.
First City Monument Bank PLC Vs Dickson (CA/l/104/2014)[2016] NGCA 96 (12 July 2016) (CA/l/104/2014) [2016] NGCA 96 (11 July 2016); 
CL Index Counterfeit Currency Currency Banking, Finance and Insurance Law Bank Deposit Bank Banking, Finance and Insurance LawThe dispute emanated from reversal of a bank deposit by the appellant bank from the respondent’s bank account. The respondent deposited US $51,700 in to his bank account which was reversed by appellant bank on the basis that the money deposited was counterfeit currency. The respondent successfully challenged the reversal and was awarded damages amounting to 1 million Naira.
The appellant appealed against the ruling on the basis that the trial judge erred. The bank maintained that the currency deposed with bank was counterfeit. It based its argument on the failure by the respondent to disclose the source of the money and the verification of the money at its head office which proved that the money was counterfeit.
The respondent opposed the appeal on the grounds that there were not present at the verification of the currency and that it was the appellant who bears the onus of proving that the currency was not authentic. He argued that the bank staff verified the authenticity of the currency when he made the deposit.
In deciding the case the court held that the was no evidence to show that deposit acceptance was subjected to authentication. It ruled that deposit of the US $51,700 created a rebuttable presumption that authentic dollars were deposited. It pointed to the teller stamp and initials as consituting prima facie proof of payment and after producing that the respondent need not to go further. The appeal was thus dismissed.