Question 462. - A B goes into a bank and asks to open an account in his name "in trust." Is it necessary, when opening such an account, for the bank to obtain from him particulars as to whom or for what the funds are in trust, thus showing such money is real trust funds and not his own?

Answer. - No. See section 96 of the Bank Act. It is probably better that the bank should not charge itself with any knowledge of the trust.