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 ?
Before issuing customers with chequebooks, banks are now required to carry out checks with the Al Etihad Credit Bureau (AECB) to ensure the creditworthiness of their customers.
The CSO asked an intern working at the branch to fill in the debit card and chequebook requisitions for the customers she had already shortlisted using her research for the intended fraud.
"My client did not suspect her husband in the beginning until it was discovered following the bank's reply to the police although the husband had earlier told his wife that he knew nothing about her lost chequebook when she asked him.
The development project completed in 2009 whereas the accused kept chequebooks with him and withdrew the amount illegally.
"I cringe every time someone gets their chequebook out in the supermarket."
Despite the Hammers being saddled with more than pounds 100million of debt, Gold is ready to open the chequebook this weekend to help manager Avram Grant make them only the second club to avoid the drop after being bottom of the Barclays Premier League at Christmas.
"We know we are never going to have the chequebook of some of the big-hitters in Europe," admitted Hore, the Ospreys' elite performance director.
Customers can also open an investment account, request a chequebook, and issue or cancel a card through this same service.
RANGERS fans believe Walter Smith has proved once and for all he is not a chequebook manager after clinching the Clydesdale Bank Premier League title against all the odds.
The shop owner said he had received a new chequebook by post in November.
'Oh dear,' he told me, 'I must have used the wrong chequebook.'
I tried to get a chequebook from my bank a couple of weeks back and that was really so awful of me.