1) If the drawer signed a cheque and left it blank, then he is legally authorizing the beneficiary to fill it. Whereby in such case the beneficiary can write any amount he desires on it in addition to its due date, without being challenged by the drawer.
2) Bounce cheque crime can take place in one of the following forms: There were not enough funds in the account, the drawer closed his bank account, the drawer issued an order to the bank to not pay the cheque's amount without a legal stands, and the drawer attempted any act that shall make the cheque invalid.
3) In case of companies cheuques the drawer of the cheque remains legally liable for the cheque's validity even after he leaves the company.
4) Lodging a bounce cheque complaint is not limited to 6 month period; such period can be up to 5 years counting from the date the drawer gives the cheque to the beneficiary.
5) In case there were not enough funds in the account to cover the cheque, the beneficiary has the right of submitting a request to the bank in order to pay him the reaming amount in the account as a partial payment.
What is the full list of fines for money laundering in the UAE? Dr. Hassan Elhais
The UAE Ministry of Economy has announced the list of penalties for violations of the laws relating to money-laundering and terrorism financing.
Can I Appeal Against an Arbitration Award?
Arbitration is best described as a cost-effective alternate dispute resolution process, which assists in smoother business relationships without incurring the rigidity of court proceedings. To address many of the pitfalls of the arbitration process and to bring the UAE arbitration process in tune with the best international standards, the UAE enacted Federal Law No. 6 of 2018 on ‘Arbitration’ and its amendments (“Arbitration Law”).
Commercial leasing and breach of contract punishments
In legal terms, a lease agreement can be defined as ‘a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment’. A ‘commercial lease agreement’ constitutes a written lease agreement whereby a landlord agrees to lease his commercial property to another person or entity for a given business purpose and specified time period.
