Dishonor of Cheque – Meaning A cheque is said to have bounced, or been dishonored, by non-payment when the drawee (banker) commits defaults in payment upon being asked
In the following circumstances a banker is bound to refuse the payment of a cheque without incurring any liability thereon. Circumstances when a banker refuse payment of Cheque
(Image: Specimen copy of a cheque) Essential characteristics of a cheque If one takes a close look at the definition of a cheque, it becomes clear that a