Law Relating to Cheques : New Horizons; Digital Signature; E-Cheques; Dishonour of Cheques as Penal Offence

Contents: Preface. 1. Genesis and development of cheques. 2. Definition and nature of cheques. 3. Parties to cheques: their capacity and liability. 4. Negotiation of cheques. 5. Presentment of cheques. 6. Crossing of cheques. 7. Bank drafts. 8. Dishonour of cheques. 9. New law on dishonour of cheques. 10. Dishonour of cheques due to insufficiency of funds. 11. Offence by companies. 12. Remedies for dishonour of cheques. 13. Proposed suggestions. Appendices. Index.

"The law of the cheques is a novel book incorporating all the provisions of the Negotiable Instruments Act, 1881, dealing with cheques.

Cheque is a carrier without luggage. It carries money of any quantity on a single small piece of paper. It has made money transactions very easy, convenient and economical as well as safe and secured vis-a-vis the legal tender. The negotiable instruments particularly cheque has oiled the wheels of commerce and facilitated quick and prompt deals and transactions. With expanding commerce the growing demands for money could not be met by mere supply of legal tender and cheques took the function of money. It has facilitated trade and commerce tremendously.

Recently, a new chapter XVII to the Negotiable Instruments Act, 1881 has been a significant addition dealing with penalties in case of dishonour of cheques due to insufficiency of funds in the account of the drawer of the cheque. The purpose of addition was mainly for : to encourage the use of cheques and to enhance the credibility of the cheques.

This has given a new paradigm to the use of cheques in the present economic scenario. After the introduction of this chapter cases on dishonour of cheques have been flooded. Now we have plethora of cases of the Supreme Court and various High Courts on this point developing and establishing new law. Seeing the pressure of the courts the Law Commission of India has advised to set up a separate court for this purpose.

This shows the importance of the law of the cheques. The law on cheques is spread over in different provisions of the negotiable instruments. So, there was need of a book mainly dealing with cheques. The author has made a sincere effort to write this book.

Against this background the book presents a critical appraisal of entire law on the cheques at one place in a book form." (jacket)