403. Protection to banker and drawer where cheque is crossed
Where the banker, on whom a crossed cheque including a cheque which is not transferable is drawn, in good faith and without negligence pays it, if crossed generally, to a banker, and, if crossed specially, to the banker to whom it is crossed, or his or her agent for collection being a banker, the banker paying the cheque, and, if the cheque has come into the hands of the payee, the drawer, shall respectively be entitled to the same rights and be placed in the same position as if payment of the cheque had been made to the true owner.
(Amended by Act 14 of 2010)