Dishonor of Cheque - the effect of section 18 NI Act is that in ...

Cheque Invalid Under Negotiable Instruments Act: Amount in Words Deemed Absurd, Renders Cheque Unusable as Negotiable Instrument.

August 8, 2020

Case Laws Indian Laws DSC

Dishonor of Cheque - the effect of section 18 NI Act is that in case of amount is stated differently in words and figures, the amount stated in figures would be immaterial and it is only the amount stated in words that has to be considered. - However, the amount written in words is “forty four lacs eighteen lacs eight hundred and ninety six only.”. This amount cannot be said to be a certain amount of money as it is an absurdity which makes that amount unquantifiable. - The cheque was not a valid negotiable instrument - DSC

View Source

← Previous Next →

Dishonor of Cheque - the effect of section 18 NI Act is that in ...

Cheque Invalid Under Negotiable Instruments Act: Amount in Words Deemed Absurd, Renders Cheque Unusable as Negotiable Instrument.

August 8, 2020

Case Laws Indian Laws DSC

You may also like:

Negotiable Instruments - Cheque - To restrain negotiability, addition of words 'Not Negotiable' or “Account Payee Only' is necessary. A crossed bearer cheque can be...

Dishonour of Cheque - the cheque has been dishonoured due to closure of the bank account, since the very cheque in question is materially altered and had been returned...

Dishonor of Cheque - Though the defendant has taken a stand that the cheque is issued as a security towards the transaction between the plaintiff and the defendant,...

Dishonor of Cheque - material alteration in the cheque without any authentication thereto by the drawer of the cheque - acquittal of the accused - Section 87 of the N.I....

Dishonor of Cheque - the said bouncing of cheques on second presentation cannot be a ground for prosecution under Section 138 of the Negotiable Instruments Act, 1881 as...

Dishonor of Cheque - cheque was issued in discharge of any debt or liability of the company or not - Every award of the Lok Adalat is deemed to be decree of a civil...

The Negotiable Instruments Act, 1881 was enacted to define and amend laws relating to promissory notes, bills of exchange, and cheques. Section 138, introduced through...

Revision u/s 263 - The words “as he deems necessary”, in our view, do not mean that the Ld. PCIT was left with a choice either to make or not to make an enquiry. As per...

Dishonour of Cheque - vicarious liability of director - The petitioners argued that they had resigned from their directorship well before the cheque was issued and could...

Dishonour of Cheque - cheque issued as security - Since factum with regard to advancement of loan to the tune of Rs. 1.00 lac stands established on record and same was...

Dishonor of Cheque - drawer of the cheque versus authorised signatory - One can easily visualise the object of Section 138 of the Negotiable Instruments Act, 1881, will...

Dishonor of Cheque - Insufficient Funds - case of appellant is that the alleged cheques were never issued by the petitioner for any legally enforcible debt - The offence...

Dishonor of Cheque - Section 118 provides for presumptions as to negotiable instruments. The complainant being holder of cheque and the signature appended on the cheque...

Negotiable Instruments Act – Blank Cheque - dishonor of cheque - A person issuing a blank cheque is supposed to understand the consequences of doing so. He cannot escape...

Dishonor of cheque due to account freeze falls within the purview of Section 138 of the Negotiable Instruments Act. The test is whether the account had insufficient...

Quick Updates: