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ARTICLE · 14 MAY 2014

Five Points You Should Know About Cheques

Dr Hassan Elhais
Dr Hassan Elhais
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Dr Hassan Elhais

Dr Hassan Elhais

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Five points you should know about the cheque.

United Arab EmiratesFinance and Banking
Hassan Elhais
Hassan Elhais

Five points you should know about the cheque:

  1. If the drawer signed a cheque and left it blank, then he is legally authorizing the beneficiary to fill it. Whereby in such case the beneficiary can write any amount he desires on it in addition to its due date, without being challenged by the drawer.
  2. Bounce cheque crime can take place in one of the following forms: There were not enough funds in the account, the drawer closed his bank account, the drawer issued an order to the bank to not pay the cheque's amount without a legal stands, the drawer attempted any act that shall make the cheque invalid.
  3. In case of companies' cheuqeus the drawer of the cheque remains legally liable for the cheque's validity even after he leaves the company.

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