*********CHEQUE*************** A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. It is an unconditional order in writing be drawn by a customer on his bank. Requesting the specifying bank to pay on demand a certain sum of money to a person named in the cheque or to the bearer or to the order of a stated person. A cheque being a bill of exchange must possess the following requirements. 1. A cheque must be drawn upon a specified banker 2. A cheque must be payable on demand. 3. A cheque must be signed by the drawer. 4. A cheque must be an unconditional order to pay a certain amount of money. 5. A cheque must be dated.
Posted on: Sat, 24 May 2014 09:50:46 +0000