The sculptors sold the horses at the same price. So if the situation was the same for both of them, how much would they have sold the horses for?
IMPORTANT LINKS
What is a check return or a check bounce? Learn legal information about check bounce.
We often read in the news about check returns.
Our most common understanding is that if a person deposits a check in a bank and there is no money in the account, the check bounces or the check is returned, but many other things apply legally.
Today we will learn about check return i.e. bounce while ‘Edusfer’ WhatsApp group writes articles that increase legal information among the people.
Mental Exercise … Puzzle
Two sculptors lived in one village. Both were skilled in their art, but one was very expensive and the other was very frugal. As a result, the former had a debt of Rs.500 and the latter had a capital of Rs.500. Now once an amateur gentleman from the village bought the art of both and gave 4 horses to the first and 2 horses to the other without paying cash for it. Now those sculptors sold the horses at the same price. So if the situation was the same for both of them, how much would they have sold the horses for?
Mind you
You can check the answer to this riddle at the following link.
The answer to the riddle is as follows:
[1] Horses may have been sold for 500 rupees. Earlier there was a debt of Rs. 500. Before that 4 horses – Rs. 2000 came. Now 2000-500 = 1500 increased.
The other had a capital of Rs.500. The other 2 horses got -1000 rupees now 1000 + 500 = 1500.
So the situation became the same for both
The sculptors sold the horses at the same price. So if the situation was the same for both of them, how much would they have sold the horses for?
Check bounce / return is both a civil and a criminal offense.
If your check is returned, you can file a civil complaint against the check writer to recover the money and criminalize the check writer to get it punished.
The two procedures have to be done separately and you can do both types of cases at once if you wish.
In civil matters, the court may order the payment of checks with interest, while in criminal matters, courts may impose a maximum penalty of two years on the person writing the check and / or double the amount of the check bounce.
What if the check is returned by mistake of the bank?
It often happens that all the details of the check writer are correct but if the check bounces due to negligence or mistake of the banker or due to technical reasons, the bank can be sued under the “Consumer Protection Act”.