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Can cheques given as friendly loan be used in a cheque bounce case
13-Feb-2023 (In Cheque Bounce Law)
I and my best friend had a business together but it went into losses.My friend told that he wants to study further and he also had some debts.So My friend asked me to give cheques of 30k for 36 months for studying purpose.i don't owe anything to him but as a gift and for studying purpose I gave him the cheques. If now I can't pay anything bcoz of the differences can he file cheque bounce case against me everything.?
Nothing can prevent your friend to file cheque bounce case. Because once the cheque is issued it is deemed to be issued for legal liability, un till and unless your friend accepts that the cheque was issued for the purpose of his education.
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Adv. Dayanand Patil
Hyderabad | 25+ Answers
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Dear Client he cannot file a cheque boune case against you unless he shows to the court that you owe a legally subsisting debt to him. If in case he bounces the cheque and filed a false case against you, you will be given an opportunity under what circumstances you issued the cheque and for what purpose you issued the cheque. You got good defence to come out from the case.
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Adv. Sistla Rama Krishna
Vijayawada | 400+ Answers
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