To get protection under Sec 131 of NI Act collecting banker should collect the cheque

Related MCQs

• The endorsement on the cheque is fictitious and the collecting banker failed to check it the cheque is paid by the paying banker
• Which of the following is/are false about Dishonour of Cheque? A) Section 138 defines Dishonour of cheque for insufficiency, etc., of funds in the account. B) Such cheque has been presented to the bank within a period of twelve months from the date on which it is drawn or within the period of its validity, whichever is earlier C) Imprisonment for such offence may be extended for period of five year D) Section 138 apply unless – the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.
• In case a collecting banker has realized the cheque, he should pay the interest to the customer as per his (customer’s) direction.
• The paying banker can get protection for a materially altered cheque provided __.
• When the cheque is dishonored, the collecting banker is not bound to give notice of the same to his customer within a reasonable time.
• In case of sufficiency of funds in the account of the drawer which can be properly used to pay the cheque, the banker must pay the cheque when required to do so.
• A collecting banker is given protection only when he collects
• A Collecting banker is given the statutory protection only when he acts as...
• The Negotiable Instruments (Amendment) Bill, 2017 inserted a provision allowing a court trying an offence related to cheque bouncing, to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant. The interim compensation will not exceed ___% of the cheque amount?
• In case collection of a bank draft the collecting banker is protected against conversion under _____ section of Negotiable Instruments Act 1881.