NIA 128 — Payment in due course of crossed cheque

Negotiable Instruments Act, 1881

Statutory text

Where the banker on whom a crossed cheque is
drawn has paid the same in due course, the banker paying the cheque, and (in case such cheque has come
to  the  hands  of  the  payee)  the  drawer  thereof,  shall  respectively  be  entitled  to  the  same  rights,  and  be
placed in the same  position in all respects, as they would respectively be entitled to and placed in if the amount of the cheque had been paid to and received by the true owner thereof.

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