Commerce

This type of cheque usually does not have parallel, lines drawn across the face. A cheque of this type is usually cashed at the counter on presentation.

This is a cheque that has two parallel or transverse lines drawn across the face of the cheque. Crossed cheque cannot be cashed at the counter, rather it is paid into the current account of the payee. Crossed cheque are of two types namely: (a) General crossed cheque: This has two parallel line drawn across …

View Subject

Crossed cheque Open cheque Certified cheque Stale cheque Dishonoured cheque A Post-dated cheque Order cheque Bearer cheque  

A cheque is a written order, usually on a printed form to a bank to pay a stated amount of money to a given person or the bearer of the cheque, usually at a given date.

It Creates room for the purchase of a variety of goods. It promotes the business of a retailer provided he remains faithful and also that of the wholesaler. It creates room for expansion. It also attracts a good number of customers.

Hire Purchase: Is a situation whereby a buyer would have to pay an initial deposit to a seller and takes the good in question home for use with the agreement to pay the balance amount on monthly installments. But whereby the buyer fails to pay the monthly installments the seller will have to reclaim the …

View Subject