| Front | BOUNCING CHECKS LAW (B.P. Blg. 22) Requisites for Criminal Liability under BP 22: |
|---|---|
| Back | 1. A person makes, draws or issues a check as payment for account or for value. 2. That the check was dishonored by the bank due to a lack of funds, insufficiency of funds or account already closed. 3. The payee or holder of such check gives a written notice of dishonor and demand for payment. 4. That the maker, drawer or issuer, after receiving such notice and demand, refuses or fails to pay the value of the check within FIVE BANKING DAYS. |
Learn with these flashcards. Click next, previous, or up to navigate to more flashcards for this subject.
Next card: Sufficient funds cover full amount drawee bank check
Previous card: Check bank time issue sufficient person funds drawee
Up to card list: Criminal Law book 2 Elements Philippines