Buy What You Need
COMPETZ - Makes You Compete
PRINCIPLES AND PRACTICES OF BANKING
Unit 15: Payment and Collection of Cheques and Other Negotiable Instruments
Unit – 15 : Payment and Collection of Cheques and Other NI
1. In Sans recourse endorsement, liability of the endorser is excluded.
2. In facultative endorsement, the notice of dishonour is waived.
3. The 3 negotiable instruments are promissory notes, bills of exchange and cheque.
4. A paying banker is protected under NI Act in the following cases:
a. Forged endorsement in an
i. order cheque under section 85 (1)
ii. bearer cheque under section 85 (2)
iii. draft under section 85 (A)
b. Material alteration in a cheque under section 89
c. Payment of a crossed cheque under section 128.
BACK TO JAIIB AND CAIIB HOME PAGE
back to main home page
For any Queries : Feel Free to get in touch with us in the below -
Mail us at
COMPETZ@2022. All Rights Reserved.