Negotiable Instruments
If drawer of a cheque signs on its back for transferring the rights to another person is called
Crossing
Material change
Endorsement
Acceptance
Endorsement
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Who is called a drawee of chequeA. Bank
B. Payee
C. Customer
D. Endorsee
Drawee of the bank draft is a
A. Bank on which the draft is drawn
B. Payee of draft
C. Sender of amount by draft
D. Bank which issues a draft
The person in whose favour the rights of receiving the amount of cheque transferred
A. Endorsee
B. Endorser
C. All of the above
D. Payee
Cheque is a written order drawn on
A. Bank
B. Endorsee
C. Customer
D. All the above
Cheque signed by drawer without filling is called
A. Traverlle’s cheque
B. Bank
C. Plain
D. Open
If drawer of cheque is a payee himself then what word is written after the word pay
A. Bearer
B. Self
C. None of the above
D. Order
Crossing of cheque is cancelled by
A. Holder
B. Drawer
C. All of the above
D. Drawee
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