Cheque Dishonoured And Paid After Some Days' Delay - Holder's Right To Interest
This section is from the book "Canadian Banking Practice", by John T. P. Knight.
This section is from the "" book, by .
Cheque Dishonoured And Paid After Some Days' Delay - Holder's Right To Interest
Question 255. - A cheque dishonoured on 9th April is to be paid on 15th May. Has the holder a legal claim on the drawer for interest?
Answer. - A cheque is a bill of exchange payable on demand. The cheque was presented and dishonoured on April 9th. The holder may recover.from the drawer the amount of the cheque and interest from time of presentment for payment. (Bills of Exchange Act, sees 165 and 134).
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