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What is a check return or a check bounce? Learn legal information about check bounce.
We often read in the news about check returns.
Our most common understanding is that if a person deposits a check in a bank and there is no money in the account, the check bounces or the check is returned, but many other things apply legally.
Today we will learn about check return i.e. bounce while 'Edusfer' WhatsApp group writes articles that increase legal information among the people.
General information about check bounce / return
Normally any check has a term of three months i.e. the check has to be presented to the bank within three months from the date of writing and after three months the check automatically becomes invalid.
Any check that is presented to the bank for payment when the check holder does not receive the money is called "check bounce" or "check return".
Returning a check is both a civil and a criminal offense but there are many reasons for returning a check which do not apply to all of the reasons.
Check law
The law on checks "The Negotiable Instruments Act - 181" is a law made by the British which is still in force in the country on a large scale.
When does your check return?
Your information is incomplete if you believe that the check is returned only because there is no money in the account.
If there is less amount in the account than the amount written in the check, the check is returned and the offender is charged.
If the account is frozen (stopped) by the check writer after writing the check, the check is returned no matter how much money is in the account and this is considered a crime for the check writer.
Your check may be returned even if the check you have is dated the next day.
If the amount written in figures and words in the check is different, the check is returned.
If there is any change in the signature on your check and the signature of the bank, the check is returned.
If you misspell the name, amount or date in your check, your check will be returned.
What can be done in case of check return / bounce?
Most checks are returned only when there is not enough money in the check writer's account.
When you go to cash a check and the check is returned, the bank gives you a check return memo (receipt) with the reasons why the check was returned..
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Within 30 days after the return of the check, you have to send a legal notice with a memo (receipt) demanding the amount you want to take to the check writer which is called demand notice in the language of law.
The check must be paid within 15 days of receipt of the demand notice.
If the checker responds to your notice and even pays, there is no need to take action.
If the person writing the check only responds to your notice but does not pay, a criminal case can be filed in the nearest applicable court within 30 days of the expiry of the 15-day limit for sentencing.
If the check writer does not pay even after the notice, he has 3 years to file a civil complaint against him to recover the money from him.
Arrest in check return / bounce case
Bouncing a check is a crime so the police can arrest you, but a magistrate's prior approval or order is required before making an arrest.
No arrest can be made without a magistrate's warrant.
Your warrant is issued only if you do not appear in court on a court order, except that the offense of check bounce is a bailable offense.
If you have multiple cases of check bounce, then you may also be charged with fraud.
Punishment in check return / bounce case
Check bounce / return is both a civil and a criminal offense.
If your check is returned, you can file a civil complaint against the check writer to recover the money and criminalize the check writer to get it punished.
The two procedures have to be done separately and you can do both types of cases at once if you wish.
In civil matters, the court may order the payment of checks with interest, while in criminal matters, courts may impose a maximum penalty of two years on the person writing the check and / or double the amount of the check bounce.
What if the check is returned by mistake of the bank?
It often happens that all the details of the check writer are correct but if the check bounces due to negligence or mistake of the banker or due to technical reasons, the bank can be sued under the "Consumer Protection Act".
Can be settled out of court?
When a check is returned and a criminal complaint is filed against it in court, the court may allow an out-of-court settlement based on a legal provision called "compounding of offense".
A settlement can be reached at any stage after the case is filed in court.
PRATHAM SHALA MATE MAHTVAPURN PDF DOWNLOAD KARO USEFUL FOR ALL SCHOOL TEACHER