How to avoid such liabliity.
Querist :
Anonymous
(Querist) 24 February 2011
This query is : Resolved
Respected Experts,
I stood as a surety to one Mr. Mohan(employee) and executed an un- regd.agreement with his employer. At the time of execution of the said deed, the employer has taken 1 lakh cheque(dated nil)from me as liquidated damages, in case if Mr. Mohan violates the terms and conditions of the said deed. I know that now Mr. Mohan has violated the said terms. Now the employer has sent a legal notice to me and Mr. Mohan asking to pay the said liquidated damages. Failing which the emplyer is going to present the said chque for collection.
In this situataion, how I can escape from the above said liablity.
plz clarify me.
Ajay Bansal
(Expert) 25 February 2011
Dont worry.As no liability u/s 138 of N.I. act is made out against you,so any complaint on said cheque will be a failure.
Querist :
Anonymous
(Querist) 25 February 2011
Sir, Thanks.
But clairify me in detail, if possible.Generally chque bounce case will also apply on me, in case, if the cheuqe is returned.
