- 22 Marks
PBL – APR 2016 – L1 – Q1- Cheques Definition Crossings Revocation Draft
Define a cheque; explain types of crossings and effects; circumstances for revocation of banker's authority to pay cheques; why a banker's draft is not a cheque.
Question
a. What is a cheque?
b. Explain the various types of crossing on a cheque and their effect.
c. Give four circumstances in which the authority of a Banker to pay cheques may be revoked or determined. Why is a Banker’s draft not a cheque?
Find Related Questions by Tags, levels, etc.
- Tags: Banker Authority Revocation, Bankers Draft, Cheque Definition, Crossings Types, Effects
- Level: Level 1
- Topic: Banking Transactions
- Series: APRIL 2016
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