Cheque - Law Dictionary Search Results
Home Dictionary Name: chequePost-dated cheque
Post-dated cheque, are not invalid, but the banker should not pay such a cheque if presented before the date it bears. If therefore, a cheque dated on a Sunday is presented on the previous business day, it should be returned with the answer post-dated. A post-dated cheque, however, if presented at or after its ostensible date, should be paid though the banker knows it to be post-dated, and even if it has been presented before the date and refused payment, Halsbury's Laws of England, 4th Edn., Vol. 3(1), p. 143.Means a cheque must not be post-dated, that is, dated after the day on which it is presented for payment to the drawee branch. Post-dated cheques present for more difficulties to the banker than antedated cheques. There are practical difficulties rather than legal ones ..... But a cheque is generally post-dated because the drawer does not expect to have the funds to meet it until that date arrives. It is a mandate to the banker to the effect that it should not be paid before that...
Cheque
Cheque, defined. [Act (1 of 1879), s. 3; [Negotiable Instruments Act, 1881 (26 of 1881), s. 6:A 'cheque' is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form.Explanation 1.--For the purposes of this section, the expression--(a) 'a cheque in the electronic form' means a cheque which contains the exact mirror image of a paper cheque, and is generated, written and signed in a secure system ensuring the minimum safety standards with the use of digital signature (with or without biometrics signature) and asymmetric crypto system;(b) 'a truncated cheque' means a cheque which is truncated during the course of a clearing cycle, either by the clearing house or by the bank whether paying or receiving payment, immediately on generation of an electronic image for transmission, substituting the further physical movement of the cheque in writing.Means a...
Crossed cheques
Crossed cheques. It is very usual for the drawer of a cheque to write across it, between two parallel lines, the name of the payee's banker, in which case the banker on whom the cheque is drawn should only pay to that banker; in other cases, as when the drawer is unaware of the payee's banker, it is usual for himto write merelythe words 'and Co.,' leaving it to the payee to add the ename of his banker if the payee so intends, or if the parallel lines are left in blank except of the words 'and Co.' the cheque canonly be paid by the Bank on whom it is drawn to or through a Bank. This serves as some security in case the cheque is lost, since it can only be paid through a banker, and moreover postpones in some measure the payment until the clearing hours in the afternoon. See Bills of Exchange Act, 1882 (45 & 46 Vict. c. 50), ss. 76-80; and (English) Bills of Exchange (Crossed Cheques) Act, 1906 (6 Edw. 7, c. 17) passed in consequence of Capital and Counties Bank v. Gordon, 1903 AC 240), b...
Lost Bill of Exchange, Cheque, or Promissory Note
Lost Bill of Exchange, Cheque, or Promissory Note. The (English) Bills of Exchange Act, 1882, s. 69, replacing the repealed 9 & 10 Wm. 3, c. 17, s. 3, enacts that if a bill of exchange, or cheque, or note, be lost before it is overdue, 'the person who was the holder of it may apply to the drawer to give him another bill (or cheque, or note) of the same tenor, giving security to the drawer, if required, to indemnify him against all persons whatever in case the bill (or cheque, or note) alleged to have been lost shall be found again'; and that 'if the drawer on request as aforesaid refuses to give such duplicate bill (or cheque, or note), he may be compelled to do so.' By s. 70 of the same Act, re-enacting 17 & 18 Vict. c. 125, s. 87, 'in any action or proceeding on' a bill (or cheque, or note), the Court may order that the loss of the instrument shall not be set up, provided an indemnity be given to the satisfaction of the Court against the claims of any other person upon the instrument...
Presetment of Bill of Exchange, Cheque, or Pro-missory Note
Presetment of Bill of Exchange, Cheque, or Pro-missory Note, the presenting of a bill by the holder to the drawee for acceptance, or to the acceptor or an indorser for payment of, a cheque to the banker for payment, and of a note to the maker or indorser for payment.The law on this subject is regulated by the (English) Bills of Exchange Act, 1882, as follows:-Presentment of Bill for Acceptance.--Presentment is necessary if the bill be payable after sight or if it be expressly stipulated for by the bill, or if it be drawn payable elsewhere than at the residence or place of business of the drawee, but in no other case (s. 39). When a bill payable after sight is negotiated, the holder must either present or negotiate it within a reasonable time (s. 40).'The presentment must be made by or on behalf of the holder to the drawee or to some person authorized to accept or refuse acceptance on his behalf at a reasonable hour on a business day and before the bill is overdue.' Presentment must be ...
Cheque crossed generally
Cheque crossed generally, where a cheque bears across its face an addition of the words 'and company' or any abbreviation thereof, between two parallel transverse lines, or of two parallel transverse lines simply, either with or without the words 'not negotiable', that addition shall be deemed a crossing and the cheque shall be deemed to be crossed generally Negotiable Instruments Act, 1881 (26 of 1881), s. 123...
Cheque Crossed Specially
Cheque Crossed Specially, where a cheque bears across its face an addition of the name of a banker, either with or without the words 'not negotiable', that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed specially, and to be crossed to that banker. [Negotiable Instruments Act, 1881 (26 of 1881), s. 124]...
Any cheque and other liability
Any cheque and other liability, In s. 138 of the Negotiable Instruments Act, 1881 phrases 'Any cheque' and 'other liability' are the two key expressions which stand as clarifying the legislative intent so as to bring the factual context within the ambit of the provisions of the statute. Any contra-interpretation would defeat the intent of the legislature. The expressions leave no manner of doubt that for whatever reason it may be, the liability under this provision cannot be avoided in the event the same stands returned by the banker unpaid, ICDS Ltd. v. Beena Shabeer, (2002) 6 SCC 426 (430): 2002 SCC (Cri) 1342....
Cheque (bearer)
Cheque (bearer), is one expressed to be payable to a particular person or bearer, or to bearer, or a cheque on which the only or last indorsement is in blank, Halsbury's Laws of England, Vol. 3(1), para 210, p. 177....
Cheque (order)
Cheque (order), is one which is expressed to be so payable, or which is expressed to be payable to a particular person or body and does not contain words prohibiting transfer or indicating an intention that it should not be transferable, Halsbury's Laws of England, Vol. 3(1), para 210, p. 177....
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