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In turn, the drawee bank may look to the depository bank for reimbursement. This is because the depository bank warrants to the drawee bank that it had the right to enforce payment of the item at the time it was transferred to the drawee bank for collection.
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www.bankersonline.com/compliance/v_gurus_cmp032601.html
www.bankersonline.com/compliance/v_gurus_cmp032601.html
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Question: In the BankersOnline InfoVault, I was just reading that a drawee bank (us, in this case) has no recourse if it pays a counterfeit check (please see "Counterfeit Check Reimbursement".) The Q and A appears to state the drawee bank may never send the item back to the bank of first deposit after the 24-hour deadline.
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www.bankersonline.com/operations/gurus_op081202i.html
www.bankersonline.com/operations/gurus_op081202i.html
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drawee bank, dishonoured, cheque book: Dinesh, thanks for your questions. Let me deal with them serially, on the background of a cheque (which provided a dotted line but did not specifically mention the dotted line to be for inserting date) being returned for want of date and imposed a charge for... ... -A drawee bank (i.e.
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en.allexperts.com/q/Indian-Law-1798/Cheque-Dishonoured-...
en.allexperts.com/q/Indian-Law-1798/Cheque-Dishonoured-Bank-Reason.htm
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drawee bank, inuit carvings, soapstone sculpture: 7. Laurie is a fine art dealer, specializing in Inuit carv¬ings. Claude agreed to purchase a large soapstone sculpture of a polar bear. By way of payment, Claude provided A cheque for the purchase price of $25 000. The cheque was drawn on Claude s account... ... BANK OF ST.
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en.allexperts.com/q/Careers-Business-1481/negotiable-in...
en.allexperts.com/q/Careers-Business-1481/negotiable-instruments-law-2nd.htm
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Have you ever experienced not being allowed to encash checks by the same bank where the fund is drawn? Perhaps you were declined because you didnt have an account with them. Here is one story. Bank involved : TD Canada Trust;
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www.zimbio.com/Democracy+and+Capitalism/articles/17/Enc...
www.zimbio.com/Democracy+and+Capitalism/articles/17/Encashing+Checks+Drawee+Bank+Declined
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Does this mean that if a cheque is drawn, for instance, "Pay John Smith or order," John Smith can demand payment from the bank on which drawn without endorsing the cheque or giving the bank a receipt, or what does it mean?
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chestofbooks.com/finance/banking/Canadian-Banking-Pract...
chestofbooks.com/finance/banking/Canadian-Banking-Practice/Cheque-Payable-To-Order-Right-Of-Drawee-Bank-To-Demand-End.html
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the drawer is quite within his rights in countermanding payment before the cheque is presented for payment as defined in the Bills of Exchange Act, but as the drawee bank has promised to pay the cheque it would probably be liable to the inquiring bank.
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chestofbooks.com/finance/banking/Canadian-Banking-Pract...
chestofbooks.com/finance/banking/Canadian-Banking-Practice/Promise-By-Telephone-To-Hold-Funds-For-A-Cheque-Liabilit.html
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An attorney forged a joint payee’s signature on a check and it was accepted by a depository bank. The check was then sent to the drawee bank, who also honored the check and withdrew monies from its customer’s account.
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www.meislik.com/main/cases/summary_mostrecent/197/
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Cheque - Wikipedia, the free encyclopedia
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A cheque , also spelled check (see below), is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified demand account held in th...
en.wikipedia.org/wiki/Cheque
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