This form is one of the Uniform Conveyancing Blanks developed by Minnesota Uniform Conveyancing Blanks Commission pursuant to Minnesota Code Section 507.09. These forms, which pertain to the transfer of legal title of property from one person to another, or the granting of an encumbrance such as a mortgage or a lien, have been approved by the Commissioner of Commerce.
Additional Affidavit In 138 Ni Act
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Minnesota
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MN-2031M
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How to fill out Minnesota Affidavit Of Additional Amount On Redemption - UCBC Form 60.5.3?
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FAQ
According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both. If payee decides to proceed legally, then the drawer should be given a chance of repaying the cheque amount immediately.
To constitute an offence under Section 138 of the Act, the following ingredients are required to be fulfilled:A person must have drawn a cheque on a bank account maintained by him.The cheque should have been issued for the discharge, in whole or in part, of any debt or other liability;More items...
Once the execution of cheque is admitted Section 139 of the Act mandates a presumption that the cheque was for the discharge of any debt or other liability. The presumption under Section 139 is a rebuttable presumption and the onus is on the accused to raise the probable defence.
Presumption in favour of holder It shall be presumed, unless the contrary is proved, that the holder of a cheque received the cheque of the nature referred to in section 138 for the discharge, in whole or in part, of any debt or other liability.
According to sec 138 and 142 of NI act, the drawee has to send a legal notice within 30 days from the date of return (dishonor) of cheque and asking the amount mentioned in the cheque to pay within the 15 days.