Bouncing of cheques is mentioned in which section of NI Act.
A141
B138
C123
D115
Answer:
B. 138
Read Explanation:
Bouncing of cheques is mentioned in section 138 of NI Act.
'Bouncing of Cheque' means when an account does not have sufficient balance to honour the cheque issued by the customer "Fund Insufficient".
A cheque which torn into pieces is called Mutilated Cheque.
An additional paper attached or pasted with a cheque for the purpose of endorsement is called Allonge.
The drawer of a cheque is always a customer.
Honouring the cheque of a customer is a statutory obligation of the bank.