Legal Question in Credit and Debt Law in India
I have issued PDC for the purchase of goods from a trader. However, there was a verbal agreement that the payment from my side will be done only when my customer pays me the amount. Now my customer is demanding time from me and my supplier is threatening me of bouncing the cheque and do the payment.
Even I told to take the goods back if the supplier is in hurry for payment.
What should I do?
Asked on 11/16/15, 1:01 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
16.11.2015
Dear Sir / Madam.
If you have taken a cheque from your customer, you should deposit the cheque on the due date. Inform your customer that there is no way you can extend credit to him since you have to pay the supplier.
Regards,
Answered on 11/16/15, 3:10 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
