Cheque
are usually crossed as a measure of safety. The act of drawing two parallel
cross lines on the face of the cheque is called crossing of cheque. The
crossing distinguishes cheques from other bills of exchange. The object of
general crossing is to direct the drawee banker to pay the amount of cheque
only to a banker, to prevent the payment of the cheque being made to wrong
person.
Sunday, July 15, 2012
Saturday, July 7, 2012
Features of a Cheque
As we
know that Cheques are reliable, convenient, and widely accepted by businesses
(although proper identification may be required). There so many features of a Cheque.
The
following are the important features of a cheque:
# It is an negotiable instrument in
writing. It may be hand written by ink or typed or printed but writing in pencil
is not allowed.
# No stipulatory conditions should be
there (i.e., an unconditional order)
# A Cheque must be drawn on specified
bankers only. A cheque contains
the name of the bank and place of the
branch.
Sunday, July 1, 2012
Forms / Types of Cheque
A Cheque
(in India) or Check (in US) is a piece of paper that authorizes a bank to take
a certain amount of money from your account and pay that amount to another
person or business, or to you as cash.
Forms of Cheque
There
are two types of Cheque. They are 1) Open Cheque and 2) Crossed Cheque.
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| Forms / Types of Cheque |
