Liability for crossed cheque payments arises when a banker pays otherwise than to the specified banker, causing loss to owner. Liability attaches where a banker pays a cheque crossed generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom it is crossed or his agent for collection; the paying banker is liable to the true owner for any loss sustained owing to such payment.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liability for crossed cheque payments arises when a banker pays otherwise than to the specified banker, causing loss to owner.
Liability attaches where a banker pays a cheque crossed generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom it is crossed or his agent for collection; the paying banker is liable to the true owner for any loss sustained owing to such payment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.