Ask a Teacher

Search



What is a bearer cheque?
A bearer cheque is a bill of exchange drawn on a bank by the holder of a current account, through which money can be paid to any person who presents it to the bank  if crossed, or on demand, if uncrossed. Most cheques can only be used by the person whose name is specified for security purposes. The cheque is negotiable from the date of issue to three months. The issued cheque turns stale after the completion of three months. The issuer of the cheque would just fill the name of the person to whom the cheque is issued, writes the amount and attaches his signature.


comments powered by Disqus