Academic MBA Question:
Question: Keerthi purchases some goods on credit from Durai, payable within 3 months. After 2 months, Keerthi makes out a blank cheque in favour of Durai, signs and delivers it to Durai with a request to fill up the amount due, as Keerthi does not know the exact amount payable by him.
Durai fills up fraudulently the amount larger than the amount payable by Keerthi and endorses the cheque to Bala in full payment of Durai’s own due. Keerthi’s cheque is dishonoured. Referring to the provisions of the Negotiable Instruments Act, 1881, discuss the rights of Durai and Bala.
Academic Assignment Answer: