Question

A cheque is drawn upon Dena Bank, payable to bearer and is crossed generally. It is stolen

by Heera who hands it over to Kanak who takes it in good faith for valuable consideration.

Kanak deposits the cheque into her own account in Canara Bank who presents it and obtains

payment from Dena Bank. Discuss the legal position of payee banker, Kanak and true owner

of the cheque. What security the crossing of cheque gave. Explain the provisions of

Negotiable Instrument Act applicable in this case that will help the true owner to recover the

amount.​

Answer 1

Explanation:

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