Get premium membership and access questions with answers, video lessons as well as revision papers.

Briefly Outline Features of a cheque

      

Briefly Outline Features of a cheque

  

Answers


Ruth
a) A cheque must be in writing and duly signed by the drawer.
b) It contains an unconditional order.
c) It is issued on a specified banker only.
d) The amount specified is always certain and must be clearly mentioned both in
figures and words.
e) The payee is always certain.
f) It is always payable on demand.
g) Must bear a date otherwise it is invalid and shall not be honoured by the bank.
NatalieR answered the question on February 15, 2022 at 01:22


Next: Write short note on Types of Negotiable Instruments.
Previous: A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. Discuss 4 different types...

View More Banking Laws and Practice Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions