CROSSIN OF CHEQUES
This query is : Resolved
21 February 2011
Explain NOT NEGOTIABLE CROSSING of cheques with examples?
21 February 2011
Cheque bearing “not negotiable” - A person taking a cheque crossed generally or specially, bearing in either case the words “not negotiable”, shall not have, and shall not be capable of giving, a better title to the cheque than that which the person form whom he took it had. [section 130]. Thus, mere writing words ‘Not negotiable’ does not mean that the cheque is not transferable. It is still transferable, but the transferee cannot get title better than what transferor had.
A gives Cheque to B. B transfers it to C. But if not honored C has no right only B has the right to sue.
A gives Cheque to B. B transfers it to C. But if not honored C has no right only B has the right to sue.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Applicability of corporate governance provisions as per the SEBI LODR
- Minor - PPF Rules Doubt
- Form 121 of income tax
- Cheque bounce intimation letter
- Capital gain property
- Conversion of director loan to equity
- TDS ON RENT OF RESIDENATIAL PROPERTY
- Rectification of TDS return - Sale of property
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
