Respected Experts,
My friend has sold a plot for Rs.10,000/- and received 50% payment in cash, for the remaining amount, the purchaser has taken a two months period. For this he has issued a cheque not putting date on it and told you may en-cash the same on a suitable date as per your convenience after expiry of two month’s period.
On examining the issued cheque, by the party,it is learnt that the remaining amount of Rs 5,00,000/- written and duly signed by the purchaser but he has not put any date on the same. Suitable date will have to put by the seller at the time of encashment.
Is there any risk for this type of transaction, such as intentional stoppage of payment by him, freezing of account due to various reasons, death of the party etc. kindly examine the issue and guide me accordingly.
