Question

What are the concequences of wrongful dishonour of cheques?

Answer 1

Answer:

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Here's the answer:-

When a check is presented to the concerned Bank by a drawee within the stipulated time, within the 3 months from the date of issue the drawee Bank issue cheque return memo to the payee mentioning the reason of non payment.

Explanation:

reasons for dishonour of cheques

• insufficient fund
• signature not matching
• account closed
• cheque was presented after 3 months
• payment stopped by account holder
• disparity in the words and figures mentioned in the cheque
• in case of a joint account where both the signatures are required but only one is there
• death of the customer
• insanity of the customer
• crossing limit of the overdraft

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