legal enforcable debt
sanjay kumar patibandla
(Querist) 05 September 2010
This query is : Resolved
Dear All
Please define the word Legal Enforcable Debt
Adv Archana Deshmukh
(Expert) 05 September 2010
A debt which is recoverable by an action of law. It should be recoverable under law i.e it should not be time barred or it should not be a gratituous act.
R.Ranganathan
(Expert) 05 September 2010
Legally enforceable Debt i.e. the debt can be enforced through the court of law for payment by the debtor to the creditor.
Y V Vishweshwar Rao
(Expert) 06 September 2010
A debt that can be recovered if a suit is filed - is legally recoverable debt
N.K.Assumi
(Expert) 06 September 2010
Reading section 138 of the NIA, it is clear from the explanation to Sec.138 of the Act, that the cheque covered by the said section must be relatable to enforceable or debt which must be existing as on the date of issuing of the cheque. For the purposes of this section, “debt or other liability” means a legally enforceable debt or other liability. In 1997 Crl. Law Journal 1942 A.P., it was held that on the date of issuing of cheque material was not supplied by complainant and the goods was found not of agreed quality. The cheque was presented third time after accused intimated about rejection of material. It was held that there was no infirmity in the reasoning of trial court that on the date of cheque there was no existing debt or liability and as such no offence was constituted u/s. 138 of N.I Act. Where cheques issued as security, on dishonour of such cheque, not offence under Sec.138 of the Act (2001 (2) RCR (Crl.) 75 MP) also see 2002 (3) Crimes 145 ( Raj).
DEFENSE ADVOCATE.-firmaction@g
(Expert) 14 September 2010
Yes the concept of legally enforcable debt is a most potent weapon in the hands of accused to win the case.
Shri Assumi you do lot of research , it will be better if you please also attach as a file the citations refered by you for use to all.
s.subramanian
(Expert) 15 September 2010
I endorse the views of experts.
