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A cheque is _______.

  • A cheque is a Negotiable instrument.
  • A cheque is a type of negotiable instrument, which means it can be transferred from one person to another in order to make a payment or settle a debt.
  • A cheque is a written order from a bank account holder to their bank to pay a specified amount of money to the person or organization named on the cheque.
  • The cheque must be signed by the account holder and may include additional information such as the date, the name of the payee, and the purpose of the payment.
  • When a payee receives a cheque, they can deposit it into their own bank account or negotiate it by transferring it to a third party.
  • The process of negotiation involves endorsing the back of the cheque with the payee's signature and then presenting it to their bank for deposit or cashing.
  • The bank will then process the cheque and credit the payee's account or provide them with cash.