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 ?
TERC has found that the policy of stores refusing to accept personal checks has only in areas with a predominantly African American clientele or customer base.
When individuals present a personal check at the point-of-sale, companies could require the customer to provide a PIN prior to the completion of the financial transaction.
It's another way for us to demonstrate our dedication to the personal check market and deliver on our long-term leadership in the category.
com addresses this need by now offering a special discount on personal checks for customers that use coupon code “save 2” at checkout.
Personal check numbers almost never go above four digits.
Natoli signed the contract and delivered it, together with her personal check in the amount of the required downpayment.
The personal check is still one of most common forms of non-cash payment, and it's especially prevalent in the residential services market," said Tim D.
A personal check is also a good source for address information, although it cannot be used for verifying an applicant's identity.
Spirit of America" includes a two-scene personal check series featuring the Statue of Liberty and the American bald eagle, with the American flag as the background.
Los Angeles City Controller Laura Chick wrote a personal check Monday for $1,000 to repay a campaign contribution from the controversial Entertainment Industry Development Corp.
Credit unions can now offer their members all Deluxe personal check designs and enjoy new products and services designed specifically for credit unions.
Consumers are concerned about the possibility of their paper checks and credit card numbers being stored in a service vehicle until it returns to the main office, and are often uncomfortable allowing their credit card numbers and personal check information to leave their sight.

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