Gurpreet Singh
asked almost 3 years ago
Anshul Dhawan
answered almost 3 years ago
Hie Payment in due course of crossed cheque Where the banker on whom a crossed cheque is drawn has paid the same in due course, the banker paying the cheque, and (in case such cheque has come to the hands of the payee) the drawer thereof, shall respectively be entitled to the same rights, and be placed in the same position in all respects, as they would respectively be entitled to and placed in if the amount of the cheque had been paid to and received by the true owner thereof. Payment In Due Course. Payment of funds to the holder of a promissory note or other negotiable instrument made without knowledge that the document had been acquired by fraud or that the holder did not have valid title.
Pankaj
answered almost 3 years ago
Hello Payment in due course of crossed cheque Where the banker on whom a crossed cheque is drawn has paid the same in due course, the banker paying the cheque, and (in case such cheque has come to the hands of the payee) the drawer thereof, shall respectively be entitled to the same rights, and be placed in the same position in all respects, as they would respectively be entitled to and placed in if the amount of the cheque had been paid to and received by the true owner thereof. Payment In Due Course. Payment of funds to the holder of a promissory note or other negotiable instrument made without knowledge that the document had been acquired by fraud or that the holder did not have valid title. Thanks & Regards Pankaj
Chirag
answered almost 3 years ago
**Payment in due course of crossed cheque** Where the banker on whom a crossed cheque is drawn has paid the same in due course, the banker paying the cheque, and (in case such cheque has come to the hands of the payee) the drawer thereof, shall respectively be entitled to the same rights, and be placed in the same position in all respects, as they would respectively be entitled to and placed in if the amount of the cheque had been paid to and received by the true owner thereof. **Payment In Due Course.** Payment of funds to the holder of a promissory note or other negotiable instrument made without knowledge that the document had been acquired by fraud or that the holder did not have valid title.
