In Indian banking system, the primarily liable on a cheque is the ____ – InterviewSolution

1.

In Indian banking system, the primarily liable on a cheque is the __________?1). Drawer2). Drawee3). Collection banker4). Paying banker

Answer»

As PER the Negotiable INSTRUMENT Act:

Drawer: Primarily LIABLE
Drawee: Payment on demand
Payee: Presentment of a cheque for payment WITHIN a reasonable TIME

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