Certified Cheque - Would the Drawee Bank be Justified in Refusing Payment on the Drawer's Instructions?
This section is from the book "Canadian Banking Practice", by John T. P. Knight.
This section is from the "" book, by .
Certified Cheque - Would the Drawee Bank be Justified in Refusing Payment on the Drawer's Instructions?
Question 104. - 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 become liable to the holder and the drawer's right to countermand payment is at an end unless he delivers the cheque to the bank for cancellation.
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