| | | | | | | | | PART III | CHEQUES ON A BANKER | | Cheque defined. | 73. A cheque is a bill of exchange drawn on a banker payable on demand. Except as otherwise provided in this Part‚ the provisions of this Ordinance applicable to a bill of exchange payable on demand apply to a cheque. | Presentment of cheque for payment. | 74. Subject to the provisions of this Ordinance- | (1) Where a cheque is not presented for payment within a reasonable time of its
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DISHONOUR OF CHEQUES SECTION 138 NEGOTIABLE INSTRUMENTS ACT‚ 1881 Dissertation Submitted to The Guru Gobind Singh Indraprastha University‚ in Partial fulfillment of the requirement for the Degree of L.L.B.(Hons.) TABLE OF CONTENTS Table of Cases i – xi Chapter - I History of Banks 1-17 Chapter - II Meaning of Negotiable Instruments. Kinds of Instruments‚ specifically cheques 18-32 Chapter - III Dishonour of cheque 33-39 Chapter - IV Duty of the Bank
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Analytical Summary: “Ordeal by Cheque” Lawrence Ester Sr. was a prestigious man‚ who lived a dignified and affluent life in wealthy streets of Santa Monica. Lawrence Ester Sr. was born into wealth‚ and graduated from Stanford University‚ at which time he married his wife and finally got himself a check book. The first check he writes is for baby supplies because his wife was pregnant. On Sept 2nd 1903 Lawrence Ester Jr. was born healthy and a bit rowdy. During his childhood Lawrence Jr. was sent
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Question 1 Define cheque and identify the characteristic of cheque. CHEQUE Definition of cheque is under section 73‚ a cheque is a bill of exchange drawn on a banker and payable on demand. The characteristics of cheque is it is an unconditional order in writing. “ Writing ” has been in section 3 of the Interpretation Act‚1967 to include all modes of representing or reproducing in visible form. Hence‚ a cheque may be printed and even be written in pencil as well
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IBM Business Consulting Services Indian Cheque Truncation Initiative Key challenges for Indian Banks Ravi Trivedy IBM Business Consulting Services deeper deeper © Copyright IBM Corporation 2003 IBM Business Consulting Services The Indian Cheque Scenario – an IBM Point-of-View Cheque volumes will continue to increase for the next 5-7 years - All parties involved have strong reasons to continue to promote check usage Banks - significant revenue flows are tied to the use of
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DISHONOUR OF CHEQUES A cheque is one form of a bill of exchange. However‚ all bills of exchange are not cheques. A cheque is always drawn on a bank or a banker. It is payable immediately on demand‚ without any days of grace. The sum that is directed to be paid should be distinctly expressed in the instrument. If there is a discrepancy between the amount stated in words and that stated in figures‚ then the amount stated in words shall be the amount that is ordered to be paid. As per the amendments
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regards to the application of the Cheques Act 1986 (Cth) (The Act) in relation to the cheques he has written. The particular issues are with post-dating of the cheque for $90‚000 drawn in favour of Ken Broome‚ the validity of the unsigned‚ undated cheque‚ and whether the delay of Ikea Medical Furniture presenting the check drawn in favour of them affects payment. 1 The cheque for $90‚000 drawn in favour of Ken Broome The issues with this cheque was that the cheque for $90‚000 drawn by Dr Duck was
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Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 1 of 3 Cheque truncation in the Indian Scenario During the last two decades or so the attitude and lifestyle of the consumers of banking service have been influenced by the advancement in technology. In tune with technological changes the banks’ delivery system has to undergo tremendous transformation. The financial reforms process has enabled many competitors to enter the financial services market with a higher degree
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STATE BANK OF TRAVANCORE CHEQUE COLLECTION POLICY ‘12 1. PREAMBLE 1. Bank’s Cheque Collection Policy (CCP) is reviewed annually‚ as per the guidelines issued by Reserve Bank of India (RBI)/IBA/BCSBI from time to time. The Policy duly approved by Bank’s Board of Directors shall be read as Bank’s Cheque Collection Policy -2012-’13. 2. Bank’s Cheque Collection Policy document has been formulated as a comprehensive document with transparency covering following aspects‚ taking into account
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in Bangladesh Date : 4 Falgun 1415 February 16‚ 2009 Dear Sir‚ Bangladesh Automated Cheque Processing System (BACPS) at the expanded Dhaka Clearing Region. You are aware that Bangladesh Bank has been working to modernize the country’s payment system. The most visible step towards modernizing payment system is the establishment of the Bangladesh Automated Clearing House (BACH). Bangladesh Automated Cheque Processing System (BACPS) is one of two components of BACH. The other component of BACH
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