Legal Question in Banking Law in Nepal

Party ABC issued a cheque infavor of Party XYZ and handed over to Party XYZ with proof. When XYZ presented the cheque to the Drawee Bank, the cheque was returned with reason 'Payment Stopped by the Drawer'. Now XYZ wants to know the reason of stop payment through Drawee Bank. Is it the responsibility of Drawee Bank to provide the reason of stop payment to the payee?

Asked on 4/18/12, 12:34 am

Santosh Dash Legal Consultant

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0 attorneys agreed

yes, of course

Answered on 4/18/12, 1:05 am

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