Pratham strant nidan kasoti Scanning table moklava babat paripatra ane namuno.
AHMEDABAD CIRCULER OF HOW TO TAKE EXAM OF 3 TO 8 ?
What is a check return or a check bounce? Learn legal information about check bounce.
We often read in the news about check returns.
Our most common understanding is that if a person deposits a check in a bank and there is no money in the account, the check bounces or the check is returned, but many other things apply legally.
Today we will learn about check return i.e. bounce while 'Edusfer' WhatsApp group writes articles that increase legal information among the people.
General information about check bounce / return
Normally any check has a term of three months i.e. the check has to be presented to the bank within three months from the date of writing and after three months the check automatically becomes invalid.
Any check that is presented to the bank for payment when the check holder does not receive the money is called "check bounce" or "check return".
Returning a check is both a civil and a criminal offense but there are many reasons for returning a check which do not apply to all of the reasons.
Check law
The law on checks "The Negotiable Instruments Act - 181" is a law made by the British which is still in force in the country on a large scale.
When does your check return?
Your information is incomplete if you believe that the check is returned only because there is no money in the account.
If there is less amount in the account than the amount written in the check, the check is returned and the offender is charged.
If the account is frozen (stopped) by the check writer after writing the check, the check is returned no matter how much money is in the account and this is considered a crime for the check writer. Your check may be returned even if the check you have is dated the next day.
When a check is returned and a criminal complaint is filed against it in court, the court may allow an out-of-court settlement based on a legal provision called "compounding of offense".
Download Circular : Click Here
Download Scanning Sheet : Click Here