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
There are three main categories of international humanitarian laws: 1) The Hague conventions 2) The Geneva conventions 3) The additional protocols

Q. Show the Suggested actions to address phoenix activity? There have been a range of options identified by previous works on phoenix activity, such as the Cole Inquiry and Tre

Problems of international policy coordination The previous section presented examples countries which were motivated to overcome Pareto inefficiency by coordinating their econo

Substantive Law: Therefore this is concerned through the rules themselves as opposed to the procedure on how to affect them.  So it defines the rights and duties of parties an

QUESTION 1 (a) Describe the main stages of money laundering? (b) Is the current Mauritian Banking Act strong enough to protect depositors and maintain financial stability gi

Question: (a) Describe the various risks faced by an international bank operating in an international market, with emphasis on interest rates and market risks. (b) Show how

Question 1: Critically examine the ‘Exclusivity Principle' and support your answer with relevant case law. Question 2: Even before the decision of the Court in Anismini

Mrs. Rusholme occupied the firm of Saunders and Watts to refinish floors in assured rooms of a home owned by her and her husband in Red Deer, Alberta. She told Mr. Saunders that sh

Explain two scenarios in which a restraint of trade clause would typically be used.

Discuss the Role of agend setting in policy process In policy process, agenda setting plays a vital role. It helps determine what policies are chosen. When there are many compe