alleryStart learning →A bank holding the drawer's sufficient funds applicable to a cheque must:
AReturn it unpaid
BHold it for 15 days
CRefer to the payee
DPay it on request
Answer & Solution
Correct answer: D. Pay it on request
Section 31 obliges the drawee bank with sufficient funds to pay and to compensate the drawer for loss from default.
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Related questions
The Negotiable Instruments Act was passed as Act No. 26 of the year:The 2002 amendment of the Act inserted new sections numbered:Criminal liability for cheque dishonour entered the Act through an amendment of:Interim compensation in cheque dishonour cases was added by the Act of:Interim compensation under Section 143A must ordinarily be paid within:Interim compensation under Section 143A cannot exceed what share of the cheque?Cheque dishonour trials under the Act should aim to end within:Which court may try a Section 138 offence?