We had to pay a sum of Rs 40,000 to Mr. Akhil. By mistake, Rs 4,00,000 was enter

Question

We had to pay a sum of Rs 40,000 to Mr. Akhil. By mistake, Rs 4,00,000 was entered on the cheque instead of Rs 40,000 but our bank account did not have such a large amount of balance. What will happen to that cheque?

Options:

A . It shall become an endorsed cheque

B . It shall become a cancelled cheque

C . It shall become a stale cheque

D . It shall become a dishonored cheque

Answer: Option D
:
D
In the given situation when bank did not have sufficient balance, then the cheque shall become a dishonored cheque.

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