113 Certified Cheque—Would the Drawee Bank be Justified in
Description
This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
113 Certified Cheque—Would the Drawee Bank be Justified in
Refusing Payment on the Drawer's Instructions ?
Question 115.— Would a bank be justified in refusing to pay a certified cheque if instructions had been received from the drawer to stop payment?
Answer.—The bank by certifying or accepting a cheque has come into privity with the payee, and the drawer's right to countermand payment is at an end.
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