Legal Question in Criminal Law in India

Power of Attorney = agent or not ?

Dear Sir,

While refering Negotiable Instrument act in Chapter 3, 28 - LIABILITY OF AGENT SIGNING-it is written: An agent who signs his name to a Promissory Note or cheque without indicating thereon that he signs as agent, or that he does not intend therby to incure personal responsibility, is liable personally on the instrument.

Then if a Power of Attorney holder sign cheque himself with seal '' for xyz concern, P A Holder'' means he is indicating and declaring he is an agent. (a Power of Attorney holder is non other than an agent for a Propritorship concern and it's account owner.

He willnot be personally liable if the above cheque is bounced by any reason.

Am not I correct ?

Thank you for your time and kind advice.

Sunny


Asked on 3/05/09, 11:10 am

4 Answers from Attorneys
Shrichand Nahar S.V.Nahar, Advocate

Re: Power of Attorney = agent or not ?

Signatory of cheque as well as person on behalf signatory signed as P.A.H. will be liable.

Read more
Answered on 3/05/09, 11:58 pm
Pranav Desai PD Legal & Associates

Re: Power of Attorney = agent or not ?

Signatory of the cheque will be liable and also the person on whose behalf he has signed will be liable.

Read more
Answered on 3/08/09, 12:20 pm
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Power of Attorney = agent or not ?

No Sunny; I am afraid, you may be personally liable for the cheque signed by you on behalf of the concern.

Read more
Answered on 3/05/09, 12:17 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Power of Attorney = agent or not ?

Already Replied.

Read more
Answered on 3/09/09, 5:23 am


Related Questions & Answers

More Criminal Law questions and answers in India