What is a Cheque ? Meaning ↓
Cheque is an of import negotiable musical instrument which tin travel transferred past times mere manus delivery. Cheque is used to brand rubber together with convenient payment. It is less risky together with the danger of loss is minimised.
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Definition of a Cheque ↓
"Cheque is an musical instrument inwards writing containing an unconditional order, addressed to a banker, sign past times the individual who has deposited coin amongst the banker, requiring him to pay on need a for certain total of coin entirely to or to the social club of for certain individual or to the bearer of instrument."
Different Kinds / Types of Cheques ↓
1. Bearer Cheque
When the words "or bearer" appearing on the expression upward of the depository fiscal establishment friction match are non cancelled, the depository fiscal establishment friction match is called a bearer cheque. The bearer depository fiscal establishment friction match is payable to the individual specified therein or to whatsoever other else who presents it to the depository fiscal establishment for payment. However, such cheques are risky, this is because if such cheques are lost, the finder of the depository fiscal establishment friction match tin collect payment from the bank.
2. Order Cheque
When the give-and-take "bearer" appearing on the expression upward of a depository fiscal establishment friction match is cancelled together with when inwards its house the give-and-take "or order" is written on the expression upward of the cheque, the depository fiscal establishment friction match is called an social club cheque. Such a depository fiscal establishment friction match is payable to the individual specified therein equally the payee, or to whatsoever 1 else to whom it is endorsed (transferred).
3. Uncrossed / Open Cheque
When a depository fiscal establishment friction match is non crossed, it is known equally an "Open Cheque" or an "Uncrossed Cheque". The payment of such a depository fiscal establishment friction match tin travel obtained at the counter of the bank. An opened upward depository fiscal establishment friction match may travel a bearer depository fiscal establishment friction match or an social club one.
4. Crossed Cheque
Crossing of depository fiscal establishment friction match agency drawing ii parallel lines on the expression upward of the depository fiscal establishment friction match amongst or without additional words similar "& CO." or "Account Payee" or "Not Negotiable". Influenza A virus subtype H5N1 crossed depository fiscal establishment friction match cannot travel encashed at the cash counter of a depository fiscal establishment simply it tin entirely travel credited to the payee's account.
5. Anti-Dated Cheque
If a depository fiscal establishment friction match bears a appointment before than the appointment on which it is presented to the bank, it is called equally "anti-dated cheque". Such a depository fiscal establishment friction match is valid upto iii months from the appointment of the cheque.
6. Post-Dated Cheque
If a depository fiscal establishment friction match bears a appointment which is all the same to come upward (future date) thence it is known equally post-dated cheque. Influenza A virus subtype H5N1 ship service dated depository fiscal establishment friction match cannot travel honoured before than the appointment on the cheque.
7. Stale Cheque
If a depository fiscal establishment friction match is presented for payment afterward iii months from the appointment of the depository fiscal establishment friction match it is called stale cheque. Influenza A virus subtype H5N1 stale depository fiscal establishment friction match is non honoured past times the bank.
