Creating a financial type fails if financial account (INC) already exists.

To Do:

1) If a financial account exists with same name as financial type that is being created, then create a relationship with that financial_account with the financial type rather than attempting to create it first. Make sure that you don't use the default financial account for a different type of relationship if the pre-existing financial account with same name is not a revenue account. Don't add a revenue account relationship if the pre-existing financial_account is not a revenue account.
2) Put a unique index on relevant fields to ensure that Financial_type is a unique name and provide a message if creating or updating would lead to a duplicate: "Financial type must have a unique name."

I have already reproduced this in the public civicrm sandbox at: http://drupal.demo.civicrm.org/civicrm/admin/financial/financialType

Steps to reproduce:

1) Go to the screen at: Administer ... CiviContribute ... Financial Types

2) Click the button "Add Financial Type"

3) In the "name" field type "Member Dues" or any other name where a Financial Account of type Revenue (INC) already exists.

4) Click the "Save" button.

You will see the error message below:

DB Error: already exists
Error Details
Database Error Code: Duplicate entry 'Member Dues' for key 'UI_name', 1062
Additional Details:
Array
(
[callback] => Array
(
[0] => CRM_Core_Error
[1] => handle
)

[code] => -5
[message] => DB Error: already exists
[mode] => 16
[debug_info] => INSERT INTO civicrm_financial_account (name , contact_id , financial_account_type_id , account_type_code , description , is_header_account , is_deductible , is_tax , is_active , is_default ) VALUES ('Member Dues' , 1 , 3 , 'INC' , NULL , 0 , 0 , 0 , 1 , 0 ) [nativecode=1062 ** Duplicate entry 'Member Dues' for key 'UI_name']
[type] => DB_Error
[user_info] => INSERT INTO civicrm_financial_account (name , contact_id , financial_account_type_id , account_type_code , description , is_header_account , is_deductible , is_tax , is_active , is_default ) VALUES ('Member Dues' , 1 , 3 , 'INC' , NULL , 0 , 0 , 0 , 1 , 0 ) [nativecode=1062 ** Duplicate entry 'Member Dues' for key 'UI_name']
[to_string] => [db_error: message="DB Error: already exists" code=-5 mode=callback callback=CRM_Core_Error::handle prefix="" info="INSERT INTO civicrm_financial_account (name , contact_id , financial_account_type_id , account_type_code , description , is_header_account , is_deductible , is_tax , is_active , is_default ) VALUES ('Member Dues' , 1 , 3 , 'INC' , NULL , 0 , 0 , 0 , 1 , 0 ) [nativecode=1062 ** Duplicate entry 'Member Dues' for key 'UI_name']"]
)

Note: As a side effect the new financial type DOES get created, BUT it has NO relationships to any financial accounts.

Is it even valid to have 2 or more financial types with identical names? The system is currently allowing this, although it does not allow 2 or more financial accounts with the same name.