What are post dated cheques and Travelers cheque
Post dated cheque :
Both under Indian and English law, a post-dated cheque is not invalid by reason only that it is post-dated but the certification of such a cheque before it is due, is invalid. The mere fact that the date of payment of a cheque is postponed to a future date duees not make the cheque payable “otherwise than on demand” it is payable on demad after the due date. A person who is holder in due course of a cheque without notice of any defect, is entitled to the payment from the drawer. A ‘ post-dated’ cheque is only a bill of exchange when it is written or drawn, It becomes a ‘cheque’ when it is payable on demand. A suit cannot lie on a post-dated cheque till after the date passes.
Forged cheque: If a cheque, is forged there is no mendate to the bank to pay it. the bank can escape liability only if it can establish knowledge to the customer of the forgiving in the cheques. Inaction for continuously long period cannot by itself afford a satisfactory ground for the bank to escape the liability. where there was no evidence to show that anyone other than the person handling the bank account of of firm/company knew that the forged cheques had been encahed , the company/firm could not be known-suited on the ground of negligence or in action.
Travelers cheque:
It is a matter of common knowledge that In case of travelers cheque the banks insist that the person presenting the cheque should sign in the presence of the officer before whom the cheques are presented for payment, which will ensure that the person presenting the cheques for payments is the same person who purchased the cheque. This is intended to safeguard and protected the bank who pays the amount as also the person who has purchased the cheque. Thus, when there was wast difference in two signatures, which had not being explained and the officer who passed the cheque for payment was not examined, there was evidence to show that such officer was really negligent not scrutinizing signatures properly and thus the bank was liable for Loss.
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