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Post-dated cheques in Indian law are considered under the Negotiable Instruments Act, 1881.Post-dated cheques are common and enforceable. [9] In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque
6. It Is a Stale Check. Much like bread, once a check is stale it won’t really serve the purpose you need it to. This means that many checks are void after a certain period of time. Often this ...
A cheque (or check in American English; see spelling differences) is a document that orders a bank, building society (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.
Not all checks are the same and not all are processed by financial institutions the same way. Learn how long different types of uncashed checks are good for.
Pages for logged out editors learn more. Contributions; Talk; Stale-dated check
In banking, antedated refers to cheques which have been written by the drawer, and dated at some point in the past. In the United States antedated cheques are described in the Uniform Commercial Code's Article 3, Section 113.
Under American law, a blank cheque is an example of an "incomplete instrument" as defined in the Uniform Commercial Code's Article 3, Section 115 (a). [1] Writing an amount in a blank cheque, without the authority of the signer, is an "alteration". [2] It is legally equivalent to changing the numbers on a completed (non-blank) cheque.
The Check 21 Act took effect one year later on October 28, 2004. The law allows the recipient of a paper check to create a digital version of the original, a process known as check truncation, into an electronic format called a "substitute check", thereby eliminating the need for further handling of the physical document. The recipient bank no ...