Thursday, November 15, 2012

BANK CAN FREEZE ACCOUNT INTO WHICH IT MISTAKENLY CREDITED MONEY: HIGH COURT

When a bank inadvertently omits to upload the stop payment instruction issued by its account
holder and the cheque is thus credited to the account of the payee despite such instruction,
the bank is well within its rights to freeze the account of the payee till he returns the money
with interest.

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