Joint account Chaque with minor signature only
1 month ago
I lend 2.3 lakhs to someone and for security he gave me a blank chaque with only signature but the problem is it’s a joint account chaque and the person gave me chaque is minor in that joint account. If he refuses to pay me back can I take legal action using that chaque
A.Dear client, both members must sign a cheque for a joint account. A minor can write a check, but it must be countersigned by a parent. A minor account holder can use a chequebook to withdraw money from their account, but they cannot issue or draw a cheque in favour of a third party. If a minor gives a cheque and it has been dishonoured, the legal guardian who is a joint holder of the minor's checking account is liable under Section 138 of the Negotiable Instruments Act, 1881.
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A.Dear Sir,
Please check whether cheque is acceptable with the signature of minor normally it is not acceptable. Please get an endorsement from the Bank and then get issue a legal notice as provided under Section 138(b) of NI Act and proceed accordingly against both the persons.
Please check whether cheque is acceptable with the signature of minor normally it is not acceptable. Please get an endorsement from the Bank and then get issue a legal notice as provided under Section 138(b) of NI Act and proceed accordingly against both the persons.
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