Section 129 of Negotiable Instruments Act - Payment of crossed cheque out of due course

Section 129 Negotiable Instruments Act Description

Any banker paying a cheque crossed generally otherwise than to a banker, or a cheque crossed specially otherwise than to the banker to whom the same is crossed, or his agent for collection, being a banker, shall be liable to the true owner of the cheque for any loss he may sustain owing to the cheque having been so paid.

Click here to read more from the Negotiable Instruments Act