Parntership Firm is having three partners. The bank accounts are to be operated by the signature of any two partners jointly as per partnership deed clause. One partner writes to banks mentioning that their is some misunderstanding and requests to stop accounts operations. The banks immediately freezes the accounts, accepts the deposits of cheques but dishonors the issued cheques with the signature of two partners. The bank intimates the other two partners after lapse of 3, 4, days period. The partner who writes to bank do not intimate the other partners.
Under the circumstances whether bank has acted correctly?
Will the firm be liable for 138 acion?
What is the legal remedy?