BILLS OF EXCHANGE ACT - 1961 (ACT 55)

Section - 81 - Protection to Collecting Banker

Where a banker in good faith and without negligence-

(a) receives payment for a customer of a cheque, whether crossed or uncrossed; or

(b) having credited a customer's account with the amount of such a cheque, receives payment thereof for himself;

and the customer has no title or a defective title, to the cheque, the banker does not incur any liability to the true owner of the cheque by reason only of having received payment thereof.