Facing A Bounced Cheque Issue? Know Your Legal Rights (Video)

Overview:

A cheque, as per Federal Law Number 18 of 1993, is an order from the drawer to a bank, indicating a specific sum to be paid to a third person, the beneficiary, or the bearer (Article 483).

A bounced cheque, also called a dishonored or returned cheque, results from various reasons, such as insufficient funds, payment restraint orders, or closed bank accounts.

Cheque Presentation and Encashment:

According to Article 617 of the Commercial Transaction Law, a cheque should be presented on or after its date and encashed within six months (Article 618).

Dubai Criminal Lawyers emphasize potential liabilities for submitting a cheque with insufficient funds or knowingly issuing a dishonored cheque.