Non-payment of cheques, Business Law and Ethics

Assignment Help:

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.


Related Discussions:- Non-payment of cheques

Best arguments to support the objections, A man is standing at a bar. ...

A man is standing at a bar.  His friend Sam says to him, "Jim, it was Claude who scratched your car and slashed all your seats." Two days later Jim is found beaten i

Implementation of open method of coordination, Implementation of open metho...

Implementation of open method of coordination It is emphasised that OMC might contribute to the dissemination of best practice in the implementation of national development po

List eight main objectives of tax treaties, QUESTION (a) List eight mai...

QUESTION (a) List eight main objectives of tax treaties (b) Explain carefully how cases of dual residence for both individuals and companies would be resolved by the applica

Intention - element of contract, Intention - Element of Contract Moreo...

Intention - Element of Contract Moreover to an agreement to constitute a contract then the parties thereto must have intended it for have legal consequences.  Subsequently an

How to solve multiple equilibria problem, How to solve multiple equilibria ...

How to solve multiple equilibria problem The approach of equilibrium selection to solve multiple equilibria problem aims to retain the definition of equilibrium and accepts th

Accounts to be annexed to balance sheet, Accounts to be Annexed to Balance ...

Accounts to be Annexed to Balance Sheet: By S.156 (1) the profit and loss of account, and, thus far as not incorporated in the balance sheet or profit and loss of account, any

Define the sources of international law 2, SOURCES OF INTERNATIONAL LAW ...

SOURCES OF INTERNATIONAL LAW Apart from Treaty and Customs, the Statute of International Court of Justice (ICJ) under its article 38 (1) mentions some other sources of internati

Safety and health officer in an organization, QUESTION 1 What are the d...

QUESTION 1 What are the duties of an Occupational, Safety and Health officer in an organization? QUESTION 2 Section 47 (1) of the Occupational, Safety and Health Act st

Advocates, Advocates Whether in sec 3(1) of the Interpretation and Gen...

Advocates Whether in sec 3(1) of the Interpretation and General Provisions Act cap 2 and sec 2 of the Advocates Act (1989) an advocate is a person that whose name has been dul

What is the meaning of potential harmonization, What is the meaning of pote...

What is the meaning of potential harmonization On reviewing the literature on coordination, convergence, and potential harmonization of antitrust laws, we discover several dif

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd