Explain the following statements by giving brief reasons in the context of provisions contained under Banking Regulation Act and the prevelant banking practice by referring the provisions of Negotiable Instrument Act? (i

The 'Account Payee' crossing is a mandate to the collecting banker; the Bank has to ensure that the cheque is not collected for a third party. This mandate is not addressed to the paying banker. However, it is to be noted that it is banking practice for the paying banker to return cheques if third party endorsements are found on them as payment may be found as 'not in due course'.