J, a shareholder of a co. purchased for his personal use goods from a mall on credit.He sent a cheque drawn on the co's A/c to the mall towards the full payment of bills.The cheque was dishounoured by the comapany's bank. J, the shareholder of comapny was neither a director nor a person incharge of the co. Examining the prov. of negotiable Act, state whether J has commited an offence under U/s 138 of the act and decide whether J can be held liable for the payment, for the goods purchased from the mall ?
Thursday, June 17, 2010
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