Types of crossing {Sec. 123 to 131 A}
|
Nature of crossing |
Requirements |
Effects |
| General crossing | The cheque must contain two parallel Transverse lines | The cheque must be paid only to a banker |
| Special crossing | The cheque must contain the name of a banker. Special crossing may be made only once | Cheque must be paid only to the banker to whom it is crossed. Special crossing can not be converted into general crossing.
|
| Not negotiable crossing | The cheque must contain the words ‘not negotiable’. The cheque must be crossed generally or specially | The cheque nevertheless remains negotiable. The title of the transferee shall not be better than the title of the transferor.
|
| A/c payee crossing, i.e. restrictive crossing | The cheque must contain the words ‘A/c payee’ or ‘A/c payee only’. The cheque must be crossed
Generally or specially |
The cheque does not remain negotiable anymore.
Based on transfer procedure |
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