Advertisements
Advertisements
Question
What is a cheque?
Answer in Brief
Solution
A cheque is an unconditional order in writing, drawn upon a specified banker, directing the bank to pay a certain sum of money only to the order of a person or to the bearer of the instrument.
shaalaa.com
Banking Transactions
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
Write any three disadvantages of payment through cheques.
Write a short note on Automated Teller Machine.
______ is not a legal tender and the creditor may refuse to accept it.
Distinguish between.
Cheque book and Passbook
Justify the following sentence for or against and give a reason:
A bank cannot refuse payment of a cheque.
