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.

Collins Dictionary of Law © W.J. Stewart, 2006

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References in periodicals archive

Thomas Cook is celebrating the 150th anniversary of the first overseas package holiday by introducing a new form of travel money - the travellers cheque card.

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The airline will recommend the new American Express Travellers Cheque Card to its customers and accept the card as payment for bookings.

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Khan, of Southfield Road, Middlesbrough, was jailed for 18 months after he pleaded guilty to seven charges of obtaining services by deception, three attempts at obtaining services by deception, and three of handling a stolen cheque card, bank card and passport between May 1999 and February 2002.

Man is locked up over fraud charges

The court heard that Parsons broke into a house in Birchgrove, Porth, and stole two mobile phones, a cheque book and cheque card.

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Finance: Charge of the bank brigade

Nottingham Crown Court was told Mellor was caught in a the store in Mansfield, Nottinghamshire, trying to use cheques and a cheque card she had reported stolen from her home in a bogus burglary.

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Convenience: You will have to order the cheque books, carry them and a special cheque card with you and write out a cheque in front of the shopkeeper.

MAKE THE MOST OF YOUR HOLIDAY SPENDING POWER

QMy daughter got hold of my cheque book and cheque card and, forging my signature, made cheques out to herself to the value of about pounds 3,400.

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The attacker threw the 71-year-old to the floor and took her black canvas bag, containing pounds 35 and her cheque card.

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Norman Parker, chairman of the Warwickshire Retail Crime Initiative, said: "Credit and cheque card fraud is the fastest growing crime in the country at the moment.

FRAUD-BUSTING BID GIVEN THUMBS UP; Shoppers asked for fingerprint