Tag: accounting for bills of exchange transaction
Questions Related to accounting for bills of exchange transaction
A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.
Taking in care of Negotiable Instrument Act. $1881$, which of the following is the essential for a cheque?
In case of a bill of exchange, the drawee is entitled to have three days for making payment of the bill but in case of a _____________ is always payable on demand.
________ of the Negotiable Instrument Act, 1881 defines, ''A cheque is a bill of exchange drawn on a specified banker and not expressed to be payble otherwise than on demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form.''
The Negotiable Instruments Act, 1881 has recognised an _____________ also as a cheque.
A cheque does not include the electronic image of a truncated cheque and a cheque in the electronic form.
A cheque is always payable on demand.
The term "a cheque in the electronic form" is defined in the Negotiable Instruments Act, 1881 under _______.
Cheque is as _______________.
If the words "not negotiable' are used with special crossing in a cheque, the cheque is _______________.