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6. Payable on demand.

 A cheque to be valid must be payable ondemand and not

otherwise. Use of the words on demand‟

ortheir equivalent

is not necessary. When the drawer asks thebanker

to pay and does not specify the time for its payment, theinstrum

ent is payable on demand (Sec.19).7. 

Dating of cheques.The drawer of a cheque is expected

to date it before it leaves his hands. A cheque without a

date is consideredincomplete and is returned unpaid by

the banks. The drawer candate a cheque with the date earlier

or later than the date on whichit is drawn. A cheque

bearing an earlier date is antedated and theone bearing the

later date is called post-dated. A post-datedcheque cannot

be honoured, except at the personal

risk of thebank ‟

s manager, till the date mentioned. A post-

dated cheque isas much negotiable as a cheque for

which payment is due, i.e.,the transferee of a post-

dated cheque, like that of the cheque on which payment is

due, acquires a better title than its transferor, if he is a

holder in due course. A cheque that bears a date

earlierthan six months is a stale cheque and cannot

be claimed for.

 

Question 6: Write short note on :A-

Digital SignatureB-Information

Technology ActAns:-- 

A-Digital SignatureAuthentication of electronic records.

 Authentication is a process usedto confirm the identity of

a person or to prove the integrity of information. The

authentication of message involves determining itssource

and verifying that it has not been modified or replaced in

transit.Subject to the provisions of section 3 any subscriber

may authenticatean electronic record by affixing his

digital signature.The “hash function” means an

algorithm mapping or translation of one

sequence of bits into another, generally smaller set known as

“hashresult” such that an electronic record yields the

same hash result every time the algorithm is executed

with the same electronic record as itsinput making it

computationally infeasible(a) to derive or reconstruct

the original electronic record from the hashresult produced

by the algorithm;(b) that two electronic records

can produce the same hash result using the algorithm.

B-Information Technology Act

In May 2000, at the height of the dot-com boom, India

enacted the IT Act and became part of a select

group of countries to have put in placecyber laws. In all

these years, despite the growing crime rate in thecyber

world, only less than 25 cases have been registered under the

IT Act 2000 and no final verdict has been passed in

any of these cases asthey are now pending

with various courts in the country.

 

 Although the law came into operation on October 17, 2000, it

still hasan element of mystery around it. Not only from the

perception of thecommon man, but also from the

perception of lawyers, law enforcing agencies and even

the judiciary.The prime reason for this is the fact that

the IT Act is a set of technicallaws. Another major

hurdle is the reluctance on the part of companies

to report the instances of cyber-crimes, as they don't

want to get negative publicity or worse get entangled

in legal proceedings. A majorhurdle in cracking

down on the perpetrators of cyber-crimes such

ashacking is the fact that most of them are not in India. The

IT Act doesgive extra-territorial jurisdiction to law

enforcement agencies, but suchpowers are

largely inefficient. This is because India does not

havereciprocity and extradition treaties with a large

number of countries.The Indian IT Act also needs to evolve with

the rapidly changing technology environment that breeds

new forms of crimes andcriminals. We are now beginning

to see new categories and varieties of cyber-crimes,

which have not been addressed in the IT Act. Thisinclude

s cyber stalking, cyber nuisance, cyber harassmen

t, cyberdefamation and the like. Though Section 67

of the InformationTechnology Act, 2000 provides for

punishment to whoever transmitsor publishes or causes

to be published or transmitted, any material w

hich is obscene in electronic form with imprisonment for

a term which may extend to two years and

with fine which may extend totwenty five thousand

rupees on first convection and in the event of second

may extend to five years and also with fine which may

extend tofifty thousand rupees, it does not expressly

talk of cyber defamation.The above provision chiefly aim

at curbing the increasing number of child pornograp

hy cases and does not encompass other crimes

whichcould have been expressly brought within its ambit such

as cyberdefamation.

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