{"id":4922,"date":"2019-02-16T14:36:07","date_gmt":"2019-02-16T09:06:07","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=4922"},"modified":"2019-02-16T11:37:55","modified_gmt":"2019-02-16T06:07:55","slug":"cheque","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/cheque\/","title":{"rendered":"Cheque"},"content":{"rendered":"

A cheque can be defined as a written order made by a current account holder (Drawer) to a\u00a0<\/strong>bank. (Drawee)<\/strong>
\nThe main features of a cheque \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong>
\n\u2022 Date
\n\u2022 Name of bank and branch
\n\u2022 The name of payee
\n\u2022 The term \u201cOr bearer\u201d
\n\u2022 The amount of money in words and figures.
\n\u2022 The term \u201cPay\u201d
\n\u2022 Signature of account holder
\n\u2022 Magnetic recognition strip (Cheque no: Bank no, Branch no, and Account no.)
\nThe different parties involved in a cheque<\/strong>
\n\u2022 Current account holder (drawer)
\n\u2022 Payee
\n\u2022 Drawee\/ Bank<\/p>\n

Cheques can be catergorized as follows<\/strong><\/p>\n

\u2022 Bearer cheque<\/p>\n

\u2022 Order cheque
\nFactors taken into consideration when writing a cheque <\/strong><\/p>\n

\u2022 Use indelible ink when writing a cheque<\/p>\n

\u2022 Note the relevant details on counter foil.<\/p>\n

\u2022 Draw one line across any mistake you make and place full signature of the drawer<\/p>\n

\u2022 Sign correctly according to the specimen signature<\/p>\n

\u2022 Write the correct date and use safety method.<\/p>\n

\u2022 No blank cheques should be signed.
\nA Crossed cheque<\/strong><\/p>\n

It is a cheque where two parallel alines are drawn across its face or the name of a commercial bank is stated called a crossed cheque<\/p>\n

\u2022 A cheque crossed for security<\/p>\n

\u2022 There are 2 types of crossed cheques . They are general crossing and special crossing.
\n<\/a>
\n\u2022 A general crossed cheque is not negotiable or Two parallel lines drawn on the face of a cheque<\/p>\n

\"cdsf<\/a><\/p>\n

A special crossed cheque \u00a0refers \u00a0to the name of a commercial \u00a0bank with or without the parallel lines.<\/p>\n

\"cdsf<\/a><\/p>\n

An endorsement is where you write your name on the back of the cheque as it appears on the face of the cheque. The endorsement will be made in the following instances
\n\u2022 When it is deposited in the bank
\n\u2022 When a cheque is transferred to another person
\n\u2022 Non – crossed cheques – encased over the counter
\n\u2022 When a bank refuses payment for a cheque it is called dishonoring
\nThe reasons for dishonoring a cheque<\/strong>
\n\u2022 Stop payment
\n\u2022 The death of the account holder and the bank has been informed.
\n\u2022 Insolvency\/ bankruptcy
\n\u2022 Court order
\n\u2022 Wrongly written
\n\u2022 Insufficient funds<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A cheque can be defined as a written order made by a current account holder (Drawer) to a\u00a0bank. 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