LEGISLATION
| DOI | http://doi.org/10.1111/j.1468-2230.1958.tb00467.x |
| Published date | 01 March 1958 |
| Author | Aubrey L. Diamond |
| Date | 01 March 1958 |
L
E
GI
S
L
A
'I'
I0
N
CHEQUES ACT,
1957'
THE
Cheques Act,
1957,
which,
inter
ah,
in section
1
protects
a banker paying unendorsed or irregularly endorsed cheques, gives
effect to the Recommendations
of
the Committee on Cheque En-
dorsement (Cmnd.
s),
discussed in this
Reriew,
Vol.
20,
p.
161,
and is not, therefore, reviewed in detail. The provision in section
2
which
in
effect makes it unnecessary to endorse cheques cashed by
the payee or paid into his account, has, of course, becn much
in the pblic eye, whereas section
4,
the main effect of which is
to extend the protection
of
the collecting banker under what,
hitherto, has been section
82
of
the Bills of Exchange Act,
1882,
from crossed to open cheques, is probably
of
greater interest to
bankers than to the general public. Extraordinary confusion
hns
been created in the public mind by section
3,
according to which
an unendorsed cheque which appears to have been paid by the
drawee bankers is evidence
of
the receipt by the puyee
of
the
sum payable by the cheque.
Some
people seem
to
have thought
that, because the law gives to the debtor this additional facility
of proving the payment, there
has
been a fundamental legal change
relieving the creditor of any obligation to issue a receipt.
Thr
wording of the Act gives
no
excuse for this misapprehension.
0.
K.-F.
TBE
ADVERTISEMENTS (HIRE-PURCIIASE) ACT,
1057
ONE
of
the objects of the Hire-Purchase Act,
3938,
was to make
clear to prospective hirers the extent
of
the obligations incurred
by signing the hire-purchase agreement. With this end in view
the Act provides
inter ah
that, where
it
applies, the hire-purchase
agreement must be signed by the
hirer
in person, and
thnt
it,
must
contain certain minimum financial information.'
Putting such details into a legal document
for
signature is
one
thing. Ensuring that they are
read
is
tinother. Arid
it.
niuy well
be that some people have bcen misled by ailwrtisc?meiits such
ns
"
Yours for
El
))
into signing nnrcad ugrccments committing them
to substantial liability. Clearly
no
.statistics showing the effect
of
misleading advertisements are likcly
to
he avnilable,
hit
tlrc problem
1
5
Ct
6
Eliz.
2.
c.
30.
1
Or
to buyers
iinder
credit-snlc agreements.
2
See the Hire-Purchase Act,
1038,
R.
2 (2)
(hire-porchafie agreements)
and
8.
9
(2)
161
(credit-sale
ngreemente).
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