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

Contract in relation to business, Conrad put an advertisement in a newspape...

Conrad put an advertisement in a newspaper on 19 November offering to sell his motor boat for $35,000. On 21 November, Joe rang Conrad and said he was prepared to pay $30,000 for t

Discuss the law relating to the rights and duties, QUESTION 1 Your moth...

QUESTION 1 Your mother makes delicious cakes and your wife suggests the idea of setting up a business to market these products. The cakes will be prepared by your mother and a

What are the key elements of a conflict, Question: (i) Define the te...

Question: (i) Define the term "conflict", "grievance" and "dispute" (ii) What are the key elements of a conflict? (iii) Describe the transformation process of a

Judicial elucidation of acts, Judicial elucidation of Acts: In fact th...

Judicial elucidation of Acts: In fact the other points to be noted in relation to judicial elucidation of Acts are as follows: like; (a)   There is no clause of an Act is t

Variation of class rights of the preference shareholders, Variation of clas...

Variation of class rights of the preference shareholders: This was not a variation of class rights of the preference shareholders.  The company could resolve to go keen on liq

Civil remedies by a copyright owner, QUESTION 1 (a) List down the remed...

QUESTION 1 (a) List down the remedies that are available for breach of contract (b) Elaborate on two of them QUESTION 2 What are the duties of seller and buyer under

Discuss the advantages of arbitration over litigation, QUESTION 1 Mr To...

QUESTION 1 Mr Tom, a businessman, has a commercial dispute with one of his clients. He has heard about Alternative Dispute Resolution and he believes that mediation, conciliati

Explain the term- sustainability, Explain the term- Sustainability One ...

Explain the term- Sustainability One of the major problems identified for international policy coordination is whether the agreed outcome is sustainable. As can be seen from th

Appointment of arbitrators, Appointment of Arbitrators However under s...

Appointment of Arbitrators However under sec 12(1) the parties are free just for agree on the procedure of appointing arbitrators. Therefore under sec 31(1) the parties are

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