Economics · Economy
What does Section 31 of the Negotiable Instruments Act, 1881 primarily deal with?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The statutory protections given to a collecting banker handling crossed cheques
- 2The detailed criminal procedure and penalties for cases related to cheque bounce
- 3The legal liability of the drawee bank to compensate the drawer for wrongful dishonor when sufficient funds are available✓
- 4Statutory protection granted to a paying banker against forged endorsements
Correct answer
The legal liability of the drawee bank to compensate the drawer for wrongful dishonor when sufficient funds are available
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