Liability of drawer
Full Text
Liability of drawer.—The drawer of a bill of exchange or cheque is bound, in case of dishonour by the drawee or acceptor thereof, to compensate the holder, provided due notice of dishonour has been given to, or received by, the drawer as hereinafter provided.
Plain English Summary
Makes the drawer of a bill of exchange or cheque liable to compensate the holder upon dishonour, provided they receive due notice of the dishonour.
Key Legal Elements
- Applies to the drawer of a bill of exchange or cheque
- The drawer is bound to compensate the holder in case of dishonour by the drawee or acceptor
- Liability is conditional upon due notice of dishonour being given to or received by the drawer
Practical Note
Fundamental basis of civil liability in cheque bounce disputes. The drawer's liability is secondary and arises only after the drawee bank dishonours the cheque AND the statutory notice of dishonour is served to the drawer.
हिंदी पाठ
आहर्ता का दायित्व।—विनिमय-पत्र या चेक का आहर्ता (लिखने वाला) आहारी (drawee) या स्वीकर्ता (acceptor) द्वारा उसके अनादर (dishour) होने की स्थिति में, धारक (holder) को क्षतिपूर्ति करने के लिए बाध्य है, बशर्ते अनादर की उचित सूचना आहर्ता को दे दी गई हो या उसके द्वारा प्राप्त कर ली गई हो, जैसा कि इसके बाद प्रावधान किया गया है।