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Amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation to those whose cheques have bounced due to _________________.
  • a)
    Signature Mismatch
  • b)
    Dishonouring Parties
  • c)
    Disfigured or Damaged Cheque
  • d)
    Scribbling, Overwriting on Cheque
  • e)
    Problems with Date of the Cheques
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Amendment to the Negotiable Instrument Act will allow a court to order...
The Cabinet approved an amendment to a current law to allow for payment of an interim compensation in cheque dishonour cases with a view not to allow unscrupulous elements holding payments. Amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation to those whose cheques have bounced due to dishonouring parties. If the drawer is acquitted, the court may direct the payee to repay the amount paid as interim compensation with interest. Similarly, appellate courts would be enabled to order the appellant to deposit a part of the compensation awarded by the trial court at the time of filing appeal. A payee of a dishonoured cheque has to spend considerable time and resources in court proceedings to realise money due to him.
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Amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation to those whose cheques have bounced due to _________________.a)Signature Mismatchb)Dishonouring Partiesc)Disfigured or Damaged Chequed)Scribbling, Overwriting on Chequee)Problems with Date of the ChequesCorrect answer is option 'B'. Can you explain this answer?
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Amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation to those whose cheques have bounced due to _________________.a)Signature Mismatchb)Dishonouring Partiesc)Disfigured or Damaged Chequed)Scribbling, Overwriting on Chequee)Problems with Date of the ChequesCorrect answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation to those whose cheques have bounced due to _________________.a)Signature Mismatchb)Dishonouring Partiesc)Disfigured or Damaged Chequed)Scribbling, Overwriting on Chequee)Problems with Date of the ChequesCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amendment to the Negotiable Instrument Act will allow a court to order for payment of an interim compensation to those whose cheques have bounced due to _________________.a)Signature Mismatchb)Dishonouring Partiesc)Disfigured or Damaged Chequed)Scribbling, Overwriting on Chequee)Problems with Date of the ChequesCorrect answer is option 'B'. Can you explain this answer?.
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