What is payment in due course of crossed cheque and payment in due course ?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Gurpreet Singh asked almost 3 years ago

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3 Answers
Open uri20170510 32134 59004f?1494421790 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.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 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

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 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.

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