reminder to directors when signing cheques
by Steve - Posted 21 November 2007
If you are a director signing cheques for your company, make sure the company's full name and registration number is on the cheque. In Constantaras v BCE Foodservice Equipment , the Supreme Court of Appeal sent a reminder that the requirements of the Companies Act (and Close Corporations Act) in this regard are pre-emptory and cannot be excused even if the receiver of the cheque knew that you were signing on behalf of your company. If the necessary info is not on the cheque, you wil be personally liable for the amount reflected.
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