Cheque
A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand. – section 6
Parties to Cheque
- Drawer
- Drawee
- Payee
Essentials of Cheque
- It must be in writing
- It must contain unconditional order
- It must be signed by the person giving it
- It must be payable on demand
- The sum must be certain
- It must be payable to specified person or bearer
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