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 ?
In the Heineken Cup this season we are up against a team in Toulon who are prepared to get the chequebook out and buy a Carl Hayman, a George Smith and JonnyWilkinson.
He recalled having signed on a paper while receiving the chequebook and believed it was used to forge his signature.
FEARS were expressed for the financial affairs of Birmingham's old folk as it emerged that chequebooks would be consigned to history within a decade.
There were not a lot of students at the university who had even one chequebook, let alone two.
I asked my colleague to put Ahmed on the phone so that I could explain to him that I really needed the chequebook and ask, if not today when could I expect it?
Between December 8-18, 2003, Kennedy obtained a chequebook and department store credit card that belonged to the resident, both of which were personalised in her name.
Some were even offering to take their chequebooks out on the stand.
A FRAUDSTER stole a chequebook from her vulnerable elderly neighbour to pay for thousands of pounds of goods.
With the new upgraded system, clients will get information on current, saving and overdraft accounts, loan particulars, letters of credit (LC) and chequebook status, exchange rate of foreign currencies and money transfer, said the Bank s President, Taye Dibekulu.
The service will enable customers to check bank balances or place a request for a chequebook.
This is chequebook justice pure and simple and is a profoundly regressive step.
a chequebook and bank statement belonging to a Keresley pensioner has been found in a hedge.