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Section 128 - Payment in due course of crossed cheque, Section 129 - Payment of crossed cheque out of due course, Section 130 - Cheque bearing not negotiable : Negotiable Instruments Act 1881

 

 

What is Payment in due course of crossed cheque? What is Payment of crossed cheque out of due course? What is Cheque bearing not negotiable? Payment in due course of crossed cheque, Payment of crossed cheque out of due course and Cheque bearing not negotiable are defined under Section 128, 129 and 130 of Negotiable Instruments Act 1881

Section 128 of Negotiable Instruments Act 1881: "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.

 

Section 129 of Negotiable Instruments Act 1881: "Payment of crossed cheque out of due course"

Any banker paying a cheque crossed generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom the same is crossed, or his agent for collection, being a banker, shall be liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid.

Section 130of Negotiable Instruments Act 1881: "Cheque bearing not negotiable"

A person taking a cheque crossed generally or specially, bearing in either case the words "not negotiable", shall not have, and shall not be capable of giving, a better title to the cheque than that which the person from whom he took it had

 

Negotiable Instruments Act 1881

Section 121 - Estoppel against denying capacity of payee to indorse

Section 122 - Estoppel against denying signature or capacity of prior party

CHAPTER XIV
OF CROSSED CHEQUES

Section 123 - Cheque crossed generally

Section 124 - Cheque crossed specially

 

 

Section 125 - Crossing after issue

Section 126 - Payment of cheque crossed generally

Section 127 - Payment of cheque crossed specially more than once

Section 128 - Payment in due course of crossed cheque

Section 129 - Payment of crossed cheque out of due course

Section 130 - Cheque bearing not negotiable

 

 

Section 131 - Non-liability of banker receiving payment of cheque

Section 131A - Application of Chapter to drafts

CHAPTER XV
OF BILLS IN SETS

Section 132 - Set of bills

Section 133 - Holder of first acquired part entitled to all

CHAPTER XVI
OF INTERNATIONAL LAW

Section 134 - Law governing liability of maker, acceptor or indorser of foreign instrument

Section 135 - Law of place of payment governs dishonour

Section 136 - Instrument made, etc., out of India, but in accordance with the law of India

 

 

Section 137 - Presumption as to Foreign Law

CHAPTER XVII
OF PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS

Section 138 - Dishonour of cheque for insufficiency, etc., of funds in the account

Section 139 - Presumption in favour of holder

Section 140 - Defence which may not be allowed in any prosecution under section 138

Section 141 - Offences by companies

Section 142 - Cognizance of offences

Section 143 - Power of Court to try cases summarily

Section 144 - Mode of service of summons

Section 145 - Evidence on affidavit

Section 146 - Bank's slip prima facie evidence of certain facts

Section 147 - Offences to be compoundable

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