SCOPE OF SECTION 138 OF THE NEGOTIABLE INSTRUMENTS ACT OF 1881

 Advent of cheques has given market a new dimension to corporate and commercial world for transaction. People prefer carrying and execute small piece of paper called cheque than carrying the currency worth the value of cheque. But, there is certain Section of society that intends to execute a cheque without having an intention to honor it. Prior to 1988, no legal provision existed which restrained people from issuing cheques without sufficient funds in their accounts or punishes them in event of the same.

by making strict liability in matters of Section 138, it is indeed an effective measure which encourages greater amount of vigilance to prevent callous attitude of drawers of cheques in discharge of debts or otherwise.

SCOPE OF SECTION 138 OF THE NEGOTIABLE INSTRUMENTS ACT OF 1881 - (mylawyersadvice.com)

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