7. When should a banker refuse payment of cheque?
Answers
Answered by
3
Answer:
A banker must also refuse payment of cheques when its customer has been adjudged insolvent or has become insane since in such cases its original authority to pay on behalf of the customer ceases to exist. A fresh authority is required on those accounts.
Answered by
0
Answer:
here u go
Explanation:
Circumstances when a banker refuse payment of Cheque :
When the customer has countermanded payment.
When the banker has received a garnishee order.
When the customer has died.
When the customer has become insolvent or insane.
Where the banker has received a notice of assignment.
When the customer has lost the instrument.
When the banker has come to know of any defect in the title.
Where the instrument has been materially altered.
When the account is closed.
Similar questions