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Moheb Hassan

Moheb Hassan

Lawyer

الأسئلة المجابة 63652 | نسبة الرضا 98.2%

Lawyer

Hi , I want legal advise regarding security...

تم تقييم هذه الإجابة:
Hi , I want legal advise regarding security cheque issuance between the seller and buyer in order to initiate and start process of apartment selling .

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الرد من العميل

More information about security deposit cheque between 2 parties as Express for interest to complete selling procedures .. is it legal to submit 10 % value of product as security cheque until process the deal . Then complete the amount by returning the cheque?

إجابة الخبير: Moheb Hassan

Moheb Hassan

Moheb Hassan

Lawyer

الأسئلة المجابة 63652 | نسبة الرضا 98.2%

There is nothing to prevent the payment of a contract provider under a security check, but the other party can exchange the value of that check and the judge will not consider that the check is a security check, but will impose its punishment against the drawer as there was not enough money to pay the value of the check, just as the punishment for the check is imprisonment or a fine.
Here is the text of the UAE Punishment Law, related to your inquiry:
Article 401
Anyone who badly gave a cheque that does not have a sufficient fulfillment of an existing and withdrawable or recoverable after giving the cheque all or some of the compensation so that the remainder does not fulfill the value of the cheque or the order drawn on him not to exchange it, or who deliberately edited or signed it in a manner that prevents Whoever spent it.
He shall be punished with the same punishment from someone who appears to another person or delivers a cheque to his bearer, knowing that the cheque has no standing consideration that meets its value, or that it is not withdrawn.
The criminal case shall be terminated if payment or assignment took place after the crime took place and before a final ruling was made on it, and if that happened after the judgment became final, its execution shall cease.
If the court orders that the checkbook be withdrawn from the convict and prevented from being given new books in accordance with the provisions of Article (643) of the Commercial Transactions Law, the Public Prosecution shall inform this order to the Central Bank for circulation to all banks.
If a bank violates the aforementioned order, then a fine of 100,000 AED is required from it.

الرد من العميل

Much appreciated

إجابة الخبير: Moheb Hassan

Moheb Hassan

Moheb Hassan

Lawyer

الأسئلة المجابة 63652 | نسبة الرضا 98.2%

I am happy to receive your inquiry and reply to it

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Moheb Hassan

Moheb Hassan

Lawyer

الأسئلة المجابة 63652 | نسبة الرضا 98.2%

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