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 ?
Penny Bottomley, prosecuting, said: "He used the cheque book belonging to a man who died in October 2011.
Summary: This businessman's travails after being defrauded of Dh460m by trusted accountant and aides must be an eye-opener for all who leave their cheque books and finances with others and highlight banks' failure in protecting interests of customers.
In Denmark, it is free of charge to transfer money to any other bank account in any bank within the country, and I am not even too sure you have cheque books
Over the years, our cheque books keep running out and my wife applies online and I get a call to come and pick it up from the bank's head office.
The cheque book was used to buy pounds 8,000 of items including golf clubs, cosmetics and jewellery between April and May this year.
Huddersfield magistrates were told that although he denied stealing Louise Overton's cheque book, he wrote out four cheques during the time that he had it.
They failed to find the cheque book and assumed it would turn up, but there were more cheques from the book on future statements.
A cheque book isn't some daft, old fashioned way of making a purchasing like bartering.
It is not quite a blank cheque book that the recipients will be able to use to pay the bills or book themselves a holiday in the Bahamas.
Q: I'VE found an old Girobank cheque book but the Post Of fice says it doesn't deal with it anymore.
Apacs head of public relations Jemma Smith said, 'There is a generation of people who have grown up without having a cheque book around.