Non-payment of cheques, Business Law and Ethics

Non-Payment of Cheques

A banker's authority about pay a cheque that will be determined or that terminated through: like;

(a) Countermand of payment, below s.75 (a). the Act does not prescribe the mode in the countermand is such to be effected. Further it may thus be done orally or in writing. Conversely a means of obtaining the evidence that of the countermand, such bankers frequently utilized a written notice also. a cheque is countermanded such the drawer instructs the bank not to honour such the cheque presented for payment. Although to be effective, hence the notice must subsist prearranged to the banker before the cheque is just paid. almost despite the countermand, such the bank pays the cheque, such it will be liable for refund the money about to the drawer: like; Burnett v Westminster Bank Limited there.

(b) Notice of the customer's death - Cheques drawn through a customer previous to his death are such valid because like a precaution as the banker will not honour them. So one is

(c) conversely the customer’s account such has insufficient funds so, one is

(d) Notice of such the presentation of such a bankruptcy petition against then the customer. This terminates a banker's authority since of technical reasons under the Bankruptcy Act also.

(e) since the cheque has been altered or changed.

(f) further the cheque is irregular or uneven.

(g) One is as Garnishee Order - Conversely a Garnishee Order is an order such of the Court to a bank manager freezing such the account of a customer further notice from till the court there.

(h) Although insanity of the drawer also.

Posted Date: 2/2/2013 8:13:30 AM | Location : United States







Related Discussions:- Non-payment of cheques, Assignment Help, Ask Question on Non-payment of cheques, Get Answer, Expert's Help, Non-payment of cheques Discussions

Write discussion on Non-payment of cheques
Your posts are moderated
Related Questions
Define the term - authoritative government decision We can sum up by way of saying that the intent to implement a policy is not the same thing as a real policy. Failure to impl

VOIDABLE ALLOTMENTS: An allotment of shares is voidable if it is made in breach of- a)      Section 49 (1): by having been made before the minimum subscription was raised o

Illegality - Law of Contract Therefore an agreement to constitute a legally enforceable contract then it must have been entered into to a lawful purpose.  But an agreement to

Winding-Up:    (a) A company is dissolved, i.e. ceases to exist, when its name is removed from the register.  It is usually necessary, before it can be dissolved, to liquida

Question: State whether the following statements are TRUE, FALSE or UNCERTAIN. Briefly (two or three paragraphs) give reasons for your answer. (a) There are no market fail

Law of Contract: Mr.Sakr who owns a factory in Baabda for manufacturing furniture, signed a contract in his factory in 12-7-2009 with Mr.Abdo who used to import woods from Bra

please explain these topic to me in detail as soon as possible so that i can make my assignment accordingly

Define the term - Media are a potentially privileged Media are a potentially privileged means of communication in three ways: They help to coordinate and link policy relevant a

The second factor which is necessary for a claimant to impose claim on other person is to have a cause for the action taken by him. Hence it is important to have a proper link betw

CASUAL VACANCIES: By S.159 (6) "The directors may fill any casual vacancy in th office of auditor, so further any there such vacancy maintaining the surviving or continuing au