Cheque-definition-Types-Life cycle -fraud-Forgery CHEQUE-Definition: Negotiable Instrument (section-13) A negotiable instrument means a promissory note , bill of exchange or cheque payable either to order or bearer. A negotiable instrument may be made payable to two or more payees jointly or it may be made payable in the alternative to one […]
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Regular used words in banking world Promissory Note Promissory Note is an instrument in writing (not being a banknote or a currency note), containing an unconditional undertaking, signed by the maker, to pay on demand or at a fixed or determinable future time a certain sum of money only to, […]
Read moreCheque Types-Crossing of cheque and Endorsement Cheques may be of two types: Open or uncrossed cheques & Crossed Cheque 1. An open cheque is payable at the counter of the drawee bank on the presentation of cheque. Such cheque runs great risk in the course of circulation because once a […]
Read moreThe Salient Features of a Cheque Cheque A cheque is a document of great importance in the business world. It can be passed from one hand to another easily and so it has become a popular mode of payment. A cheque is the most economical and safe method of money […]
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