I have given a blank cheque and an agreement for employment for 1 year. But I didn’t signed the cheque. Now he is saying that he will default the cheque. Is it possible
From India, Kolkata
From India, Kolkata
Hi, I am manikanth. I worked in a start-up where I signed an employment bond and gave a blank cheque. I left the job after 3 months. Now he is saying he will default the cheque. But I didn't signed the cheque. So is it valid
From India, Kolkata
From India, Kolkata
3131
The unsigned cheque does not carry any value. Your employer can not present this cheque before bank for encashment since it is a void instrument.
Further, the account holder can also send instruction to bank for "Stop Payment" or ' Hold'.
From India, Mumbai
Further, the account holder can also send instruction to bank for "Stop Payment" or ' Hold'.
From India, Mumbai
I hope you did not able to grasp the thing, why stop payment option was suggested as an assurance that person concern is safe. It was nothing rather suggested to understand that cheque issuer has got option to hold the payment, even if a signed cheque.
From India, Mumbai
From India, Mumbai
Prabhat,
Please understand that issuance of stop order is not all that simple thing.
It has a legal meaning.
https://www.telegraphindia.com/11409...y_18786854.jsp
Read this link for general info.
Though due to lack of signature the cheque in this case is worthless.
Stop payments cannot be issued without valid cause..
Having regard to the widespread practice of issuing cheques which are dishonoured and the many ingenious methods of avoiding payment that are practiced, the Legislature has opted for a non-nonsense situation.(Sec 138 NI act and court judgements)
From India, Pune
Please understand that issuance of stop order is not all that simple thing.
It has a legal meaning.
https://www.telegraphindia.com/11409...y_18786854.jsp
Read this link for general info.
Though due to lack of signature the cheque in this case is worthless.
Stop payments cannot be issued without valid cause..
Having regard to the widespread practice of issuing cheques which are dishonoured and the many ingenious methods of avoiding payment that are practiced, the Legislature has opted for a non-nonsense situation.(Sec 138 NI act and court judgements)
From India, Pune
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Bond of Employment.doc
Bond in employment.pdf