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July 23, 2017

Cheque in Business Law | Definition & Essentials


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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