cheque

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cheque

a BILL OF EXCHANGE drawn on a banker, payable on demand. A cheque operates as a mandate or authority to the drawee's bank to pay the party named as drawer and debit the account of its customer, the drawer. Cheques are essentially negotiable instruments and may be negotiated by indorsement. The Bills of Exchange Act 1882, however, provides that a cheque may be crossed. In this case the cheque should be presented for payment by a bank (rather than the person named as drawee). If accompanied by the words ‘not negotiable’, this has the effect that the cheque cannot be negotiated, and the words ‘account payee’ or ‘account payee only’ mean that the cheque cannot be passed on to another.
References in periodicals archive ?
CID officer Yiannakis Manouris, a witness for the state prosecution, testified that during the course of investigations he obtained three original bank cheques made out by Loizos Iordanou Construction to Michaelides, one of five defendants in the case.
The range of products and solutions offered by Sintel has increased beyond smartcard personalisation, scratchcards, simcard packaging and bank cheques to include production of highly-sensitive documents with variable data and enhanced security features.
The KSE manager has affirmed delivering 18,000 Warba Bank cheques to citizens, calling on concerned citizens to try to be calm to make the job easier for the market authorities, the clearance staff and the brokers.
Emirates Islamic Bank said that the migration will not result in any disruption of service to Dubai Bank accounts, credit and debit cards, and that all Dubai Bank cheques will continue to be honoured.
The ex-tenants alleged that the 17-storey building's landlord is still encashing post-dated bank cheques (PDCs) given as advance rent payments.
Al Kubaisi said the families that do not require permanent assistance are provided with bank cheques.
The next U-turn on the horizon is scrapping the plan to abolish bank cheques by 2018.
There are no prizes to guess that the only authorised person to sign bank cheques is the head of the association," the source pointed out.
THERE have been a number of letters recently bemoaning the phasing out of bank cheques.
International members US funds only; US domestic checks, international money order, or foreign bank cheques.
He also denies keeping asbestos in a manner likely to cause pollution or harm to human health, and transferring or concealing criminal property in the form of bank cheques.
In 1988 he bought an electronics shop in Manama and continued until it was destroyed by fire in 1998 - and the case of the bank cheques came to light.