08-09-2007, 09:45 PM
Page 10
Chapter â VIII Payment Methods
8.1 Cheque
8.2 Types of Cheques
8.2.1 Open Cheque
8.2.2 Crossed Cheques
8.2.3 Dating a Cheque
8.3 Parties to a Cheque
8.3.1 The Drawer
8.3.2 The Drawee
8.3.3 The Payee
8.4 Component of a Bill of Exchange (includes a cheque)
8.4.1 Unconditional order
8.4.2 It must be in Writing
8.4.3 Addressed by one person to another person
8.4.4 It must be signed by the person giving it
8.4.5 Pay on demand or at a fixed or determinable future time
8.4.6 Amount certain in money
8.4.7 Payable to specified person or bearer
8.4 Payment in due course
A payment made by a banker will constitute as payment in due course
if it fulfils the following
1. Proper form
2. Not Crossed
3. Drawn on the particular Branch
4. Payable to Bearer or Order
5. Not be mutilated
6. No unauthorized material alterations
Q.4 State âYesâ or âNoâ give brief reason for your selection at the space provided below the question. (10) Summer-2006
ix. A material alteration is one which varies the rights, liabilities of the parties ascertained by the instrument.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
xii If a cheque does not bear a date, the holder may put a date thereon.
7. Sufficient Funds available
Q.2 Please write the alphabet of selected answer in the given space (20) (Winter-2006)
xiii Three cheques are presented simultaneously through clearing. The cheques are for Rs 3,000/-, Rs 5,000/-, Rs 2,000/- and the account shows a credit balance of Rs 7,349/-
A) All the three cheques will be returned unpaid taking them as one demand.
B) The cheque for Rs 5,000/- and Rs 2,000/-
C) Bank has the right to pay or return any cheque.
D) All the three cheques will be paid by allowing a temporary
over draft for the balance amount short.
8. Not be Post Dated or Stale
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
viii. A cheque becomes stale after three months from the date of issue
9. Presented during Banking Hours
Chapter â VIII Payment Methods
8.1 Cheque
8.2 Types of Cheques
8.2.1 Open Cheque
8.2.2 Crossed Cheques
8.2.3 Dating a Cheque
8.3 Parties to a Cheque
8.3.1 The Drawer
8.3.2 The Drawee
8.3.3 The Payee
8.4 Component of a Bill of Exchange (includes a cheque)
8.4.1 Unconditional order
8.4.2 It must be in Writing
8.4.3 Addressed by one person to another person
8.4.4 It must be signed by the person giving it
8.4.5 Pay on demand or at a fixed or determinable future time
8.4.6 Amount certain in money
8.4.7 Payable to specified person or bearer
8.4 Payment in due course
A payment made by a banker will constitute as payment in due course
if it fulfils the following
1. Proper form
2. Not Crossed
3. Drawn on the particular Branch
4. Payable to Bearer or Order
5. Not be mutilated
6. No unauthorized material alterations
Q.4 State âYesâ or âNoâ give brief reason for your selection at the space provided below the question. (10) Summer-2006
ix. A material alteration is one which varies the rights, liabilities of the parties ascertained by the instrument.
Q.3 State True or False give brief reason for your selection (30) (Winter-2006)
xii If a cheque does not bear a date, the holder may put a date thereon.
7. Sufficient Funds available
Q.2 Please write the alphabet of selected answer in the given space (20) (Winter-2006)
xiii Three cheques are presented simultaneously through clearing. The cheques are for Rs 3,000/-, Rs 5,000/-, Rs 2,000/- and the account shows a credit balance of Rs 7,349/-
A) All the three cheques will be returned unpaid taking them as one demand.
B) The cheque for Rs 5,000/- and Rs 2,000/-
C) Bank has the right to pay or return any cheque.
D) All the three cheques will be paid by allowing a temporary
over draft for the balance amount short.
8. Not be Post Dated or Stale
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
viii. A cheque becomes stale after three months from the date of issue
9. Presented during Banking Hours
