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  • Principles and Practices of Banking - 3 (JAIIB)
  • When a crossed cheque is paid by a bank across the counte...
Multiple choice

When a crossed cheque is paid by a bank across the counter (in cash), the paying bank is liable to

  1. the payee only

  2. the drawer only

  3. the drawee only

  4. the true owner only

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Bank is always liable to the true owner in case of crossed cheques. 

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  • Banking and Cash Transactions (990 questions)
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