Advantages of Cheques


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Advantages of Cheques:

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  1. By avoiding necessity of carring hard cash, cheques serve as a very convenient means of making payments.
  2. Cheques are a safe means of making payments.
  3. Cheques are also a suitable method of receiving payment.
  4. Payments by cheque avoid the necessity of insisting upon receipts from the payees.
  5. When a person makes payments by cheques, he need not keeps a record of those payments in is books. Intimes of disputes regarding payments, the paid cheque forms with the banker and the centries made by the bankers in his books for the cheque payments can be produced as legal evidence to prove the payments.
  6. When payments are made by cheques, the drawer of the cheques has the advantages of countermanding any payments made by mistake.
  7. As cheques are negotiable instruments, the transferees of cheques get better tittle than that of the transferors.
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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 contact@bms.co.in.

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