cheque

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cheque

a BILL OF EXCHANGE drawn on a banker, payable on demand. A cheque operates as a mandate or authority to the drawee's bank to pay the party named as drawer and debit the account of its customer, the drawer. Cheques are essentially negotiable instruments and may be negotiated by indorsement. The Bills of Exchange Act 1882, however, provides that a cheque may be crossed. In this case the cheque should be presented for payment by a bank (rather than the person named as drawee). If accompanied by the words ‘not negotiable’, this has the effect that the cheque cannot be negotiated, and the words ‘account payee’ or ‘account payee only’ mean that the cheque cannot be passed on to another.

Collins Dictionary of Law © W.J. Stewart, 2006

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"The issuer of the bounced cheque may think all that he needs to do is pay a fine if he can't settle the case.

Bounced cheque cases don't end with paying a fine, judge clarifies

The value of individual cheque per transaction continue to fell as value of cheques transactions fell by a higher quantum than the number of cheques transactions.

Some 4.47mn cheques worth QR272.56bn processed in Qatar in 2018: QCB

He concludes: "It seems apparent now that you can squiggle anything on a cheque and if there are funds in the account, it will be honoured."

There's no one to notice a post-dated cheque these days; It's all automated now and the machines can't read

By 1st September 2020 only cheques that conform to the new standard shall be allowed in the automated cheque clearing system.

Cheques To Conform To New Standard By August 31 -CBN

He added: "There are two types of cheques, namely ordinary and certified.

Accept only certified cheques, says ROP

"It was my first time to issue a cheque," she said, adding that she was able to fill out the second cheque with the correct details.

Couple stand trial for issuing dud cheques in UAE 'by mistake'

Lawyer Ashraf Abdul Razak, who was had been a partner at the firm from 1996 to 2017, said the cheque dated February 2, 2015, was given to him by Habibul Rahman Kadir Shah, a known corporate figure.

In Najib's SRC trial, law firm says handed RM2.5m cheque for 'defence contract' by Habibul Rahman

Of the total registered cases of cheque bouncing in

Capital police register 3,116 cheque bouncing cases in three years

The post UAE Banks Federation turns to tech to combat cheque fraud appeared first on TahawulTech.com.

UAE Banks Federation turns to tech to combat cheque fraud

Commenting on the decision by UBF members to embrace this innovative new technology, Abdul Aziz Al Ghurair, chairman of Mashreq Bank, said, "We are committed to enhancing the security of the UAE financial system and today's announcement is further evidence of our collective desire to tackle the issue of cheque fraud.

UBF rolls out plans to combat cheque fraud

The amount one can pay using a single cheque has also been capped to sh1 million.Cheques are used for tax purposes and for business payments.

Banks services evolve: Cash, branches and cheques exit, but the fax machine hangs in there