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a person may not like to part with goods in return for a cheque from a party not well known to him.in such context the banker on whom the cheques is drawn may be asked by the customers to mark the cheques as good for payment.this implies that cheque was drawn in good faith and on funds sufficient to meet it.
What else can I help you with?
Why should cheques be marked 'not negotiable?
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 .
What is the meaning if a cheque dishonoured by property not marked?
if "For______________" seal is not affixed for cheques issued in the accounts of legal entity.
What happens if a cheque marked non-negotiable is stolen and cashed by a thief?
If a cheque marked non-negotiable is stolen and cashed by a thief, the transaction is generally considered invalid since non-negotiable cheques cannot be transferred to another party. The bank may refuse to honor the cheque if the rightful owner reports the theft promptly. However, the bank may still process the cheque if proper identification is provided, leading to potential losses for the original payee. Legal recourse may be necessary to recover the funds, depending on the circumstances.
What is cross cheque firing?
Cross cheque firing refers to a technique used in the context of financial transactions, particularly in banking, where a cheque is marked with two crossing lines. This indicates that the cheque can only be deposited into a bank account and not cashed directly, enhancing security and reducing the risk of fraud. It ensures that the funds are transferred directly to the payee's account, providing a safeguard against unauthorized cashing.
How do you check a cheque?
To check a cheque, you must check if the cheque is checked by checking the checked cheque of checking a checked cheque as a checker.
Difference between order cheque bearer cheque?
A person holding the cheque can collect the amount if it is a bearer cheque. The payee (i.e. the person in whose favour the cheque is issued) only or his authorized person only can collect the amount of the cheque if it is an order cheque
Is the correct grammar a cheque of or a cheque for?
cheque of is a right grammar!
Is a cheque also called a cheque leaf?
Yes. A Single cheque is also called a cheque leaf
What is the function of a cheque butt?
Functions of a cheque butt
When does a cheque bounce?
When either of the below happens: * Not enough funds in the account to pay the cheque * Signature of the cheque issuer does not match with the signature in the cheque * Cheque is expired (Date of cheque is before 6 months from date of deposit) * There are any over-writings in the cheque without being counter signed by the cheque issuer.
What is a copy of a cheque called?
duplicate cheque
What is cheque leaf?
Cheque Leaf means s singhal cheque of your chequebook.
