Q: I issued a post-dated cheque in favour of someone. Now, I would like to change my bank account to some other bank. Are there any legal issues in such cases? A: It will raise certain legal consequences as the issued cheque is still valid and once when submitted will be considered as bounced…

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Issued cheques must be honored

I issued a post-dated cheque in favour of someone. Now, I would like to change my bank account to some other bank.

Are there any legal issues in such cases?

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11 Sep 2018, 08:39

Dear Questioner,

It will raise certain legal consequences as the issued cheque is still valid and once when submitted will be considered as bounced, which is a criminal offence.

I advise you to exchange cheques with the concerned party.

Regards,

11 Sep 2018, 08:49

Thank you for your help.

11 Sep 2018, 08:50

You are welcome!

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Issued cheques must be honored