Liability of drawee of cheque requires payment where sufficient funds; failure mandates compensation to the drawer. Liability of the drawee of a cheque arises where the drawee holds sufficient funds of the drawer properly applicable to payment and must pay the cheque ... Summary
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Liability of drawee of cheque requires payment where sufficient funds; failure mandates compensation to the drawer.
Liability of the drawee of a cheque arises where the drawee holds sufficient funds of the drawer properly applicable to payment and must pay the cheque when duly required; failure to pay in such circumstances constitutes a default obliging the drawee to compensate the drawer for any loss or damage caused by that default.
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