Question

Write a short note on liability of a banker in case of wrongful dishonour of cheque

Answer 1

Hey Mate ✌️✌️

Wrongful Dishonour OF CHQ

BANKER UNDER STATUTORY OBLIGATION TO
HONOUR CUSTOMER CHEQUE UNLESS THERE IS
VALID REASON TO REFUSE.
U/S 31 OF THE NI ACT BANKER IS LIABLE TO
COMPENSATE THE DRAWER FOR ANY LOSS OR
DAMAGE FOR DISHONOURING THE CHO
WITHOUT SUFFICIENT REASON.
DISHONOURING MAY BE INTENTIONAL OR BY
MISTAKE.


WRONGFUL DISHONOUR MAY BE BY
MISTAKE OR NEGLIGENCE ON THE
PART OF ANY EMPLOYEE.

IT MAY BE A CLERICAL ERROR OR
FRAUD BY BANK STAFF OR FRAUD BY
OUTSIDER OR PAYMENT OF A POST
DATED CHQ.

BANKER NOT LIABLE IF FUND IS
RECEIVED AFTER THE CHEQUE IS
RETURNED.

BANKERS LIABILITY

NI ACT STIPULATES THE ‘LOSS OR
'DAMAGE'. THEREFORE IT INCLUDES
MONETARY
MONETARY LOSS

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