Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

banner_ad

negotiable instruments act

Others 268 views 2 replies

Suresh Pai S

Tax Consultant

1029 Points Posted on 01 April 2017

what is the use of a marked cheque?

Replies (2)

Guest

marked check. A check marked 'good for payment', sometimes by means of a special stamp, and guaranteed by the bank on which it is drawn. The issuer of the check is thereby acknowledged to have sufficient funds to cover the payment. See also certified check.

Suresh Pai S

Tax Consultant

1029 Points Posted on 01 April 2017

But if he later withdraws the money there is no use of this marking. Court has ruled that marking of a cheque gives assurance that the funds were available only when it was marked. It cannot be taken as an assurance for the cheque. Then what is the use of the same?

CCI Pro

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register

Recent Topic

More recent discussions | Post

Related Topics

Latest Job Openings

View all

ARTICLESHIP 27 May 2026

CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details

ARTICLESHIP 04 June 2026

Article

Rakhecha & Co.

New Delhi

CA Inter

View Details

18 May 2026

MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details

ARTICLESHIP 23 May 2026

Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details

24 May 2026

Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details

ARTICLESHIP 08 June 2026

Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details

ARTICLESHIP 15 May 2026

ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details

10 June 2026

Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details