What to do when Cheque bounces

Before we get into details, lets get some simple nomenclature right.

What is a Cheque:  “Cheque is a negotiable  instrument in writing containing an unconditional order, addressed to a banker, sign by the person who has deposited money with the banker, requiring him to pay on demand a certain sum of money only to or to the order of certain person or to the bearer of instrument”

Drawer ,Payee and Drawee:

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