Payment of cheque crossed specially more than once
Full Text
Payment of cheque crossed specially more than once.—Where a cheque is crossed specially to more than one banker, except when crossed to an agent for the purpose of collection, the banker on whom it is drawn shall refuse payment thereof.
Plain English Summary
Mandates that a paying bank must refuse payment on a cheque specially crossed to more than one bank, unless crossed to a second bank purely as a collecting agent.
Key Legal Elements
- Cheque specially crossed to multiple bankers
- Mandatory statutory duty on drawee bank to refuse payment
- Sole exception: crossing to an agent bank strictly for collection
Practical Note
Prevents competing claims and fraud. If a cheque shows two different bank names without clarifying that the second is an agent for collection, the drawee bank must return the cheque with the return memo reason 'crossed to two banks', protecting both drawer and banker.
हिंदी पाठ
एक से अधिक बार विशेषतः रेखांकित चेक का संदाय।—जहां कोई चेक एक से अधिक बैंककारों के नाम विशेषतः रेखांकित हो, सिवाय इसके कि जब वह संग्रहण के प्रयोजन के लिए किसी अभिकर्ता के नाम रेखांकित हो, वहां वह बैंककार जिस पर वह लिखा गया है, उसका संदाय करने से इनकार करेगा।