Negotiable Instrument Act

Corporate & Other Laws

What is the meaning of "Once a bearer always a bearer"... ? Source : ICAI module... Page 2.16... point (b)

Aditya Mishra

CA Final

★ 2K+

25-Oct-21 13:20

686

Answers (2)

It means, if a cheque is originally drawn payable to bearer, it remains bearer, even if any endorsement is done onto it. The Drawee bank is discharged by payment in due course to Bearer.

CA YOGITA HARJANI

Faculty

27-Oct-21 13:06

CA YOGITA HARJANI Faculty

It means, if a cheque is originally drawn payable to bearer, it remains bearer, even if any endorsement is done onto it. The Drawee bank is discharged by payment in due course to Bearer.

Ooh... Ok... Thank you so much ma'am : )

Thread Starter

Aditya Mishra

CA Final

★ 2K+

27-Oct-21 19:16