A cheque being merely non-negotiable would not stop you cashing it. It only means the cheque cannot be presented by anyone other than the payee.
However, it's also likely to be "crossed" and marked "A/c Payee" or "A/c Payee Only". Most cheque books are now printed this way. A crossed cheque can only be paid into a bank account and cannot be cashed over the counter.
If the cheque is crossed AND marked non-negotiable it cannot be cashed would have to be paid into an bank account in your name. It would be worthless to anyone else so prevents someone else cashing the cheque for you - i.e. giving you the cash and putting in their own bank account .
You use cheques as a a substitute for cash when you don't have enough cash in hand. You can use cheques at banks, shops etc. Cheques are negotiable instruments that can be treated at par with cash.
J. J. MacLaren has written: 'Bills, notes and cheques' -- subject(s): Negotiable instruments, Checks, Law and legislation, Bills of exchange, Promissory notes, Canada 'Maclaren's Bills, notes and cheques' -- subject(s): Negotiable instruments, Checks
It means that the value of the cheque is fixed and it cannot be negotiated or changed. The amount entered in the cheque is the exact amount anyone who deposits this cheque will get. Not a rupee more and not a rupee less. That is why Cheques are called non-negotiable instruments.
It means you cannot cash it. A cheque has to be negotiable to be cashed. Non negotiable means it cannot be cashed. usually if you get a cheque with that stamped on it it is a sample or 'prize' lure for a contest.
In law the most common negotiable instruments include cheques, bills of exchange and promissory notes. Not sure from your question if you are talking about life in general or the legal aspects. In day to day life you can negotiate on many things apart from money - behaviour, terms and conditions, responsibilities etc
if "For______________" seal is not affixed for cheques issued in the accounts of legal entity.
travellers cheques do not have to be cleared, this only applies to regular cheques. travellers cheques are bought up front from a bank, so it is guaranteed cash to the person you are dealing with. If you should lose them or are stolen, the cheques are insured, so you will get your money back in a reasonable amount of time.
After the event.
By usin cheques,it can be a cross cheques or open cheques
No. They do not collect any interest. The value of the cheque is fixed and does not get changed. The amount entered in the cheque is the exact amount anyone who deposits this cheque will get. Not a rupee more and not a rupee less. That is why Cheques are called non-negotiable instruments.
Not Negotiable was created in 1918.
what is a cheques