cheque

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See: coupon

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 ?
A better than expected economic performance in Q3 probably tipped the balance for the MPC deciding not to loosen policy further, keeping the cheque-book in her pocket, for now.
But I will use my cheque-book first to keep the players I already have.
If you are expecting a new or replacement card or cheque-book in the post and it doesn't arrive, alert your bank.
Chelsea chairman Ken Bates last night declared that the age of cheque-book management is over - and it is now up to managers like Peter Reid at Sunderland to prove just how good they really are.
In addition, cheque-book fraud has been an ongoing problem.
I can take more satisfaction out of that knowing it hasn't been achieved with a cheque-book.