Section 131 of NIA : Section 131: Non-Liability Of Banker Receiving Payment Of Cheque

Explanation using Example

Imagine Jane writes a cheque to Bob, and Bob deposits this cheque into his account at XYZ Bank. The cheque is crossed, meaning it can't be cashed out directly but must be deposited into an account. XYZ Bank processes the cheque in good faith and credits the amount to Bob's account. Later, it turns out t...

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