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PE2 Valuation

This query is : Resolved 
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(Querist)
17 June 2009 can the PE2 student, who had just appeared the June 2009 exam, expect any consideration from the institute like liberal valuation???
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(Querist)
17 June 2009 Cheques become stale after the expiry of six months from the cheque date. The bank may dishonour the same and on confirmation from the drawer it can be paid.

However, i want to confirm the liability of the banker in case it makes payment against a stale cheque. Please mention the relevant section also.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
17 June 2009 no
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
17 June 2009 The Bankers should not honour stale cheques. If by mistake they honour it is the duty of the Banker to re-imburse the amount alongwith costs and damages if any happended to the account holder. There is no any special section. But in the normal practice this is adopted.
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