Legal Question in Banking Law in India
Can bank make a bearer payment of cheque to a minor?
Asked on 8/20/13, 10:07 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
20.08.2013
Dear Sir / Madam,
Yes. The bank can make a bearer payment of a cheque to a minor, if and only if, the holder (payer) of the cheque has also signed on the reverse of the bearer cheque, implying that he / she has withdrawn the cash, and the minor only being the conduit to facilitate payment.
Regards,
Answered on 8/20/13, 10:31 am
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