Essentials characteristics of a cheque


0

 Essentials characteristics of a cheque:-

(a)              The definition starts with the “cheque is a bill of exchange” so it must satisfy all the essential features of a valid bill of exchange.

(b)             It is always drawn on a specified banker. Banker includes any person acting as a banker and any post office saving bank [Sec. 3].

(c)              It is always payable on demand and not otherwise

 

 

   Form of cheque: – A cheque may be drawn in 3 forms:-

(1.)           Bearer cheque: – Expressed to be payable to bearer or the last endorsement is an endorsement in blank.

(2.)           Order cheque: – Expressed to be payable to order, or which is expressed as payable to a particular person with no prohibition on its transfer.

(3.)           Crossed cheque: – Cheque that can be collected only through a banker.


Like it? Share with your friends!

0
BMS Team

We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected].

57 Comments


Warning: Undefined array key "html5" in /home/bmsnewco/public_html/wp-content/plugins/facebook-comments-plugin/class-frontend.php on line 140

Facebook comments:

This Website Is For Sale. Email us an offer we cannot refuse on [email protected] :)

X
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube and Vimeo Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format