Discuss in the detail ‘Dishonor of Cheque’ as a Criminal Offence (S. 138-147) under the Negotiable Instruments Act, 1881 with the help of decided case laws?.
Cheques are used in almost all transactions such as re-payment of loan, payment of salary, bills, fees, etc. A vast majority of cheques are processed and cleared by banks on daily basis. Cheques are issued for the reason of securing proof of payment. Nevertheless, cheques remain a reliable method of payment for many people. On the other hand, it is always advisable to issue crossed “Account Payee Only” cheques in order to avoid its misuse.A cheque is a negotiable instrument. Crossed and account payee cheques are not negotiable by any person other than ________ __________ _______ __________ _________ ______ __________ ___ ______ ___ ______ ____.
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