Tue. Nov 24th, 2020

Section 128 of The Negotiable Instruments Act, 1881

1 min read

128. Payment in due course of crossed cheque.-  Where the banker on whom a crossed cheque is drawn has paid the same in due course, the banker paying the cheque, and (in case such cheque has come to the hands of the payee) the drawer thereof, shall respectively be entitled to the same rights, and be placed in the same position in all respects, as they would respectively be entitled to and placed in if the amount of the cheque had been paid to and received by the true owner thereof.

Leave a Reply