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Attempt a classification of cheques.

      

Attempt a classification of cheques.

  

Answers


Maurice
A cheque is a bill of exchange, drawn on a banker payable on demand.

Cheques may be classified as:
(i) Bear and order.

(ii) Open and crossed.

(iii) Bearer: this is a cheque payable to the holder.

(iv) Order: this is a cheque payable to the order of a specified person.

(v) Open: this is a cheque whose proceeds are payable to the payee across the counter.

(vi) Crossed: this is a cheque which contains two parallel transverse lines on its face.
A cheque may be crossed generally or specially.
maurice.mutuku answered the question on May 2, 2018 at 11:49


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