Cheque bounce - third party
1 year ago
It seems like that third party wil be bounce the cheque given by them
A.Dear client,
When the payee presents a cheque to the bank for payment, and the cheque is returned unpaid by the bank with a memo of insufficient funds, the cheque is said to have bounced.
A cheque bounce is an offence under Section 138 of the Negotiable Instruments Act, 1881 punishable with a fine which can extend to twice the amount of the cheque or imprisonment for a term not more than two years or both.
When the payee presents a cheque to the bank for payment, and the cheque is returned unpaid by the bank with a memo of insufficient funds, the cheque is said to have bounced.
A cheque bounce is an offence under Section 138 of the Negotiable Instruments Act, 1881 punishable with a fine which can extend to twice the amount of the cheque or imprisonment for a term not more than two years or both.
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