Common use of Returned Cheques Clause in Contracts

Returned Cheques. In consideration of the Bank allowing me/us to pay for purchases by cheque(s) I/we hereby agree that in the event any cheque is dishonoured for whatever reason, the Bank shall have the right at the Bank‟s absolute discretion (but shall not be obliged to) without prior notice to me/us to buy back from me/us the gold so purchased at the Bank‟s selling price on the day the said purchase(s) were made/or the Bank‟s buying price on the day the Bank exercised the Bank‟s right to buy back the gold, whichever price is the lower. Any loss suffered by the Bank in this connection shall be a debt due and owing from me/us to the Bank and recoverable as such while any gains made will be forfeited to the Bank and I/we agree not to make any claim in respect thereof.

Returned Cheques. In consideration of the Bank allowing me/us to pay for purchases by cheque(s) I/we hereby agree that in the event any cheque is dishonoured for whatever reason, the Bank shall have the right at the Bank‟s Bank’s absolute discretion (but shall not be obliged to) without prior notice to me/us to buy back from me/us the gold so purchased at the Bank‟s Bank’s selling price on the day the said purchase(s) were made/or the Bank‟s Bank’s buying price on the day the Bank exercised the Bank‟s Bank’s right to buy back the gold, whichever price is the lower. Any loss suffered by the Bank in this connection shall be a debt due and owing from me/us to the Bank and recoverable as such while any gains made will be forfeited to the Bank and I/we agree not to make any claim in respect thereof.

Returned Cheques. In consideration of the Bank allowing me/us to pay for purchases by cheque(s) I/we hereby agree that in the event any cheque is dishonoured for whatever reason, the Bank shall have the right at the Bank‟s absolute Bank’s discretion (but shall not be obliged to) without with prior notice to me/us to buy back from me/us the gold so purchased at the Bank‟s Bank’s selling price on the day the said purchase(s) were made/or the Bank‟s Bank’s buying price on the day the Bank exercised the Bank‟s Bank’s right to buy back the gold, whichever price is the lower. Any loss suffered by the Bank in this connection shall be a debt due and owing from me/us to the Bank and recoverable as such while any gains made will be forfeited may accrue to the Bank and I/we agree not to make any claim in respect thereof.this respect

Returned Cheques. In consideration of the Bank allowing me/us to pay for purchases by cheque(s) I/we hereby agree that in the event any cheque is dishonoured for whatever reason, the Bank shall have the right at the Bank‟s Bank’s absolute discretion (but shall not be obliged to) without prior notice to me/us to buy back from me/us the gold silver so purchased at the Bank‟s Bank’s selling price on the day the said purchase(s) were made/or the Bank‟s Bank’s buying price on the day the Bank exercised the Bank‟s Bank’s right to buy back the goldsilver, whichever price is the lower. Any loss suffered by the Bank in this connection shall be a debt due and owing from me/us to the Bank and recoverable as such while any gains made will be forfeited to the Bank and I/we agree not to make any claim in respect thereof.