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 ?
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.
The bank has claimed that it has unearthed malpractices in the banking sector involving fraudulent drawing of bank cheques.
The charges he eventually admitted include 10 pairs of counts relating to Hedges's dishonest use of bank cheques in the name of Mrs Annie Fawcett trading as Nursing Staff Solutions (NSS), between February 2004 and October 2005.
The pounds 17m Speke site opened in July and will create 300 new jobs printing bank cheques, statements and utility and credit card bills.
Katie Gilligan, 27, an associate with Chester-based Walker Smith Way commissioned a handwriting expert to check signatures on everything from bank cheques to family letters in the case, in which a daughter tried to cheat her family by forging her dying mother's will.
These people have used bank cheques to pay for goods and services they have not received.
A COVENTRY man has been jailed for 12 months by city magistrates for offences including three counts of receiving stolen goods namely assorted electrical power tools and two bank cheques.
It's about a girl who dreams up a scheme to bank cheques made out to her employer in her own account.
Apart from printing the nation's currency, the mint also prints security documents such as bank cheques, stamps, immigration and customs papers, postal orders, passports, treasury bills, academic certificates and share certificates for various government and private clients.
TNT deliver transplant organs for the NHS, benefit cheques for social services and bank cheques for NatWest and Lloyds TSB.
Perhaps the most important of these is a bill aimed at regulating bank cheques.
Mohammad Al Zafein, director of Contracts and Purchasing Department, said these privileges include giving priority to people of determination among nationals with a bid price difference of five per cent, exempting them from registration and renewal fees for suppliers, priority for placing purchase orders for less than Dh10,000, and providing facility to submit bank cheques of the company instead of primary bank guarantee if it is not possible to produce a bank guarantee.