CHEQUE.pptx-MEANING-FEATURES-SPECIMEN-TYPES

A cheque is a widely used negotiable instrument under the Negotiable Instruments Act of 1881, where the account holder (drawer) instructs their bank (drawee) to pay a specific amount to another person (payee). Cheques can be issued from savings account and current accounts and are a secure alternative to cash payments.

1. BANKING PRACTICES CHEQUE PRESENTED BY : DR JENIFER THANGAM J DESINATION : ASSISTANT PROFESSOR

2. Meaning of Cheque A cheque is a widely used negotiable instrument under the  Negotiable Instruments Act of 1881 , where the account holder (drawer) instructs their bank (drawee) to pay a specific amount to another person (payee). Cheques can be issued from savings account and current accounts and are a secure alternative to cash payments. Definition of a cheque According to section 6 of the Negotiable Instruments Act, 1881, “a cheque is a bill of exchange, drawn on a specified banker and not expressed to be payable, otherwise than on demand”.