Legal Question in Banking Law in India
if bank receive new signature of govt a/c on dated 15/05/15 &after; getting a new sig. bank receive a cheque on dtd 19/05/15 with old signature in clg. cheque should pass or not
Asked on 6/02/15, 7:19 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
03.06.2015
Dear Sir / Madam,
If the customer has given instructions to the Bank that both signatures are valid, the Bank is legally bound to pass the cheque. If the customer has instructed the Bank that the new signature replaces the old signature, the Bank has to dishonour the cheque if it bears the old signature.
Regards,
Answered on 6/03/15, 3:58 am
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