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 ?
Given it currently feels as if the MPC is unlikely to change rates until most of us are well into our retirement, focus on monetary policy is almost exclusively on whether or not the Bank of England decides to open her large cheque-book.
Wenger said: "I brought my cheque-book but looking at the prices I've realised it isn't big enough.
The Lord Chancellor, Lord Mackay, has commissioned a report into cheque-book journalism after several witnesses in the Winchester Crown Court case admitted receiving up to pounds 100,000 for their stories.
I can take more satisfaction out of that knowing it hasn't been achieved with a cheque-book.
I CAN understand the frustration of certain supporters arising from the lack of any further additions to the Liverpool playing squad but I'd much rather Benitez took his time to assess what he has to work with first of all before he starts to wave the cheque-book around.
If you are expecting a new or replacement card or cheque-book in the post and it doesn't arrive, alert your bank.
Chelsea chairman Ken Bates last night declared that the age of cheque-book management is over - and it is now up to managers like Peter Reid at Sunderland to prove just how good they really are.
The cheque-book contains values from American Express merchants, and is available exclusively to American Express Cardmembers who pay with the American Express Card.