Is post dating a cheque illegal
Application of rules in bankruptcy, laws of States and Territories and rules of the common law 5. Certain rights, duties and liabilities under Act may be altered by agreement 7. (3) An order to pay may be an order to pay a sum certain notwithstanding that the order requires a sum to be paid according to a rate of exchange specified in, or to be ascertained as directed by, the instrument containing the order.
Act to bind Crown PART II-CHEQUES Division 1-Form 10. (2) Where more than one sum is expressed to be payable in an instrument containing an order to pay, the lesser or least, as the case may be, of the sums so expressed to be payable shall be taken to be the only sum ordered to be paid by the instrument.
(2) A cheque is not invalid by reason only that- (a) it is not dated; (b) it is antedated or post-dated; or (c) the date it bears is a Sunday.
Inchoate instruments Division 2-Order and bearer cheques 19. Cheques payable to order of specified person Division 3-Delivery 25. Capacity to incur liability on cheque Division 5-Signature 31. (2) Nothing in this Act (other than section 92, sub-section 93 (2) and section 94) shall be taken to affect any liability that a bank would, but for this Act, have in relation to a bank cheque or bank draft drawn by it. (1) Subject to sub-section (2), nothing in this Act shall be taken to prevent 2 or more persons negating, inverting or otherwise altering, by agreement, their rights, duties and liabilities in relation to one another under this Act.
Transferor by delivery Division 2-Discharge of liabilities of parties 78. Non-bank financial institution to ensure cheques presented promptly 98.
Renunciation of rights against drawer or all persons liable on cheque 81. Rights of bank collecting order cheque not indorsed by payee PART VII-SPECIAL PROVISIONS RELATING TO NON-BANK FINANCIAL INSTITUTIONS Division 1-Presentment and collection of cheques by non-bank financial institutions 97.
Payment of crossed cheque otherwise than in accordance with crossing 94.
Protection of bank paying crossed cheque in accordance with crossing 93.