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Legal obligation if I make stop payment of cheque
27-Dec-2023 (In Cheque Bounce Law)
I am looking for property in Noida extenstion. The unit offered by marketing company is not suitable and he is saying there is not available unit with us but we can negotiate with Builder for any unit availablility. But the marketing company is asking for 50 K cheque so that he can negotiate with Builder company for same. The marketing company is asking for post dated cheque and giving commitment that they will return this cheque in 2 days if there will be no unit available and if i am not agree to buy the flat. He is also saying that anytime i can stop cheque using internet banking. I want to know what are legal obligation if i stop cheque?
Don't go blind, first ask for proposal for unit available with them, then proceed with Memorandum of Understanding (MOU) and incorporate the cheque details in that MOU, which you will hand over, otherwise cheque can be misused and you can be prosecuted under Section 138 of NI Act.
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Adv. Anil Upadhyay
Delhi | 25+ Answers
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If you stop the payment the cheque in other words if you bounce the cheque it will attract the section 138 of Negotiable Instrument act .
It would be advisable that do everything in written
It would be advisable that do everything in written
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Adv. Lalit Kumar Sharma
Delhi | 100+ Answers
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There is no harm in giving a post dated cheque as it can be encashed only after the date mentioned and as far as the liability to stop the payment is concerned you can stop it legally whenever you want and there will be no liability for the same as there was no consideration for the same . But before doing that make sure that you record a conversation between you and the person concerned and that particulars and consideration of the transaction must be recorded for any untoward circumstances.. you can do it.
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Adv. Suneel Kumar
Delhi | 200+ Answers
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