Bounced cheque under Singapore Law
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Hi all, I have a serious question to ask.
In Singapore if a cheque is bounced, what are the consequences to the cheque issuer?
Is it a chargable criminal offence, or is it a small matter?
Anyone who knows the law regarding this, please help to answer or provide a link or something for me to reference.
In case you're wondering, I'm not the cheque issuer, but I might be the recepient of such a cheque. -
aiyo.
where got so yan zhong one?
call up bank n ask lah.
still got time post sgf.
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This was from my Law lecturer
A cheque is a contract promising to pay the bearer xxx amount of money by certain date
If it bounced, same as breaking a contract
Its a civil suit, not a criminal case anyway. -
ask the bank teller when you deposit the cheque.
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It is chargable.... think $20...Originally posted by zhaozhilong:Hi all, I have a serious question to ask.
In Singapore if a cheque is bounced, what are the consequences to the cheque issuer?
Is it a chargable criminal offence, or is it a small matter?
Anyone who knows the law regarding this, please help to answer or provide a link or something for me to reference.
In case you're wondering, I'm not the cheque issuer, but I might be the recepient of such a cheque. -
only the check issuer faces an administrative charge.
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wats the reason for the bounce?
there is no such account in the first place? the person who wrote the check did not spell the recipient name or write the amount in words correctly? -
What? That's all? I think the admin charge is charged by the bank. But for the recepient of the cheque, can he/she take further actions, such as a law suit, to recover the money?Originally posted by dragg:only the check issuer faces an administrative charge.
Either of these two is possible:Originally posted by FireIce:wats the reason for the bounce?
there is no such account in the first place? the person who wrote the check did not spell the recipient name or write the amount in words correctly?
1)there is no such account in the first place
2)there is not enough money in the account (for ex. only left S$10 but issued cheque of S$1000).
Other details on the cheque should be correct.
So, how? Anyway to protect the recepient of cheque? -
no there is nothing to protect recipient at all. Which is also why many don't accept cheque. Yes a bounce cheque will only impact the issuer something like a $20 charge.Originally posted by zhaozhilong:Either of these two is possible:
1)there is no such account in the first place
2)there is not enough money in the account (for ex. only left S$10 but issued cheque of S$1000).
Other details on the cheque should be correct.
So, how? Anyway to protect the recepient of cheque? -
there is no law to protect the recipient.
u shd only accept cheques from trusted sources..... -
are u sure?Originally posted by FireIce:there is no law to protect the recipient.
u shd only accept cheques from trusted sources..... -
Why? You know something different?Originally posted by laurence82:are u sure?