Hello everyone!
Suppose 'A' gave a cheque to 'B' on 1st December 2012, dated 10th December 2012. The Bank learns that 'A' died on 6th December 2012.
My question is, should the bank encash the cheque or not?
Swayam (Audit Executive) (35 Points)
17 December 2012Hello everyone!
Suppose 'A' gave a cheque to 'B' on 1st December 2012, dated 10th December 2012. The Bank learns that 'A' died on 6th December 2012.
My question is, should the bank encash the cheque or not?
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 17 December 2012
No the bank shud not encash the cheque if it has the knowledge about the death of the account holder. In case of death of the account holder, the account gets freezed & the amount can be claimed by the nominee.
However if the account is in the joint name and he is the second holdere the first account holder can issue a fresh cheque.
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