InterviewSolution
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InterviewSolution
| 1. |
Explain the features and function of cheque. |
| Answer» 1. It must be in writing: A cheque must be in writing. An oral order to pay does not constitute a cheque.2. It should be drawn on banker: It is always drawn on a specified banker. A cheque can be drawn on a bank where the drawer has an account, saving bank, or current.3. It contains an unconditional order to pay: A cheque cannot be drawn so as to be payable conditionally. The drawer’s order to the drawee bank must be unconditional and should not make the cheque payable dependent on a contingency. A conditional cheque shall be invalid. | |