What does drawers mean in slang?
What does drawers mean in slang?
drawers pl (plural only) (archaic) Clothing worn on the legs, especially that worn next to the skin, such as hose or breeches. (dated or regional) Underpants, especially long underpants. (slang) Any clothing covering the legs, such as shorts, trousers, or tights.
How do you spell draws like a dresser drawer?
drawer
- a sliding, lidless, horizontal compartment, as in a piece of furniture, that may be drawn out in order to gain access to it.
- drawers, (used with a plural verb) an undergarment, with legs, that covers the lower part of the body.
- a person or thing that draws.
- Finance.
- Metalworking.
- a tapster.
What does Drawer mean in banking?
Drawer: the person or entity whose transaction account is to be drawn. Usually, the drawer’s name and account is preprinted on the cheque, and the drawer is usually the signatory. Payee: the person or entity who is to be paid the amount.
What is payee drawee and drawer?
The drawee is the party that pays the sum specified by the bill of exchange. The payee is the one who receives that sum. The drawer is the party that obliges the drawee to pay the payee.
What is drawee and drawer?
The maker of a bill of exchange or cheque is called the “drawer”; the person thereby directed to pay is called the “drawee”.
Can a bounced check be redeposited?
When a check you deposit is returned due to insufficient funds, you face the possibility of lost income as well as bank fees. You can redeposit a bounced check. However, you should confirm that the money is available before submitting the check to your bank.
Is Cheque bounce a criminal case?
a cheque bounce is a criminal offence stipulated under Section- 138 of the Negotiable Instruments Act, 1881. However, in case of a cheque bounce, the aggrieved party can file a criminal as well as a civil suit against the accused.
Who can file a criminal case against the drawer of a Dishonoured Cheque?
If the cheque issuer fails to make a fresh payment within 30 days of receiving the notice, the payee has the right to file a criminal complaint under Section 138 of the Negotiable Instruments Act. However, the complaint should be registered in a magistrate’s court within a month of the expiry of the notice period.
Who is not a party to a Cheque?
Generally, there are two parties to a cheque. These include the drawer and the drawee. While the drawer is the person who draws the cheque, the drawee is the banker on whom it is drawn. Apart from these, there can also be a payee who is liable to pay the amount on the cheque.
How do you get bail in a Cheque bounce case?
Bail in cheque bounce is a matter of right of the accused as it’s a bailable offence. So you have to give an bail application through your advocate and have to give security as per the orders of the judicial magistrate.
Is Section 138 a bailable Offence?
An offence committed under Section 138 is a non-cognizable offence (a case in which a police officer cannot arrest the accused without an arrest warrant). Also, it is a bailable offence.
Can I go abroad if a Cheque bounce case is going on?
Unless the bank is a beneficiary of the cheque it could not have filed the case. Be that as it may, unless there is an order passed by the court directing you to not leave India you are free to go abroad. On your failure to turn up in the Indian court on the hearing a warrant to arrest will be issued against you.
How do you defend a 138 case?
The cheque issued in respect of future liabilities not in existence as on the date of cheque would not attract prosecution Under Section 138 of N.I. Act. So even if security cheque is bounced the prosecution can be initiated and only defence is that there was no legally enforceable debt.
How would you deal with a false Cheque bounce case?
If a person files a false cheque bounce case against you, here are some remedies you can easily opt to:
- File a reply to the case.
- You can file a counter case against the person for filing a false case against you.
- File a civil suit claiming compensation for accusing you in a false case.
Is Cheque bounce a cognizable Offence?
No. A Magistrate can take cognizance of an offence of dishounour of Cheques under Section 138 of the NI Act only on a Complaint from the holder in due course (in this case the person in whose favour the cheque was drawn). Further, the offence is non-cognizable so the police cannot arrest without a warrant.
What is Section 138 NI Act?
Section 138 provides that when the cheque is dishonored for insufficiency of funds or for any of the prescribed reasons, the one who is at defaulter can be punished with imprisonment for a term which may extend to two years, or with fine which may extend to twice the amount of the cheque, or both.
What is NI Act in India?
The Negotiable Instruments Act, 1881. Long Title: An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
Can a partner file a complaint under Section 138 NI Act without authority letter?
(a) to (h) thereof and institution of proceedings under Section 138 of the NI Act is not amongst them. Hence merely because no letter of authorization in favour of Sh Sudesh Kumar is on record, the present complaint cannot be dismissed and this defence as raised by the accused, fails.
What is meant by NI Act?
Negotiable Instruments are written contracts whose benefit could be passed on from its original holder to a new holder. In other words, negotiable instruments are documents which promise payment to the assignee (the person whom it is assigned to/given to) or a specified person.
What are 7 requirements to negotiability?
Thus the paper meets the following criteria:
- It must be in writing.
- It must be signed by the maker or drawer.
- It must be an unconditional promise or order to pay.
- It must be for a fixed amount in money.
- It must be payable on demand or at a definite time.
- It must be payable to order or bearer, unless it is a check.