1. cheque

2. Cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified demand account held in the maker/depositor's issued with that institution. Both the maker and payee may be natural sponsored legal entities.

3. to pay money and identify payees. Such an order was referred to as
The origin of cheque came from ancient banking system where bankers would issue orders at the request of their customers….
to pay money and identify payees.
Such an order was referred to as
a bill of exchange.

4. The use of bills of exchange facilitates trades by eliminating the need for merchants to carry large quantities of currency (e.g. gold) to purchase goods and services

5. A draft is a bill of exchange which is not payable on demand of the payee.

6. Cheques generally contains:
place of issue
cheque number
date of issue
payee
amount of currency

7. signature of the drawer
routing / account number
the account number is assigned independently by various banks

8. Types of Cheque
An cheque order is payable only to the named payee or his or her endorsee, it usually contains the terminal term "Pay to the order of (name)."

9. A bearer cheque is payable to anyone who is in possession of the document; it would be problematic if the cheque does not state a payee

10. A counter cheque is a bank cheque given to customers who have run out of cheques or whose cheques are not yet available. It is often left blank and is used for purposes of withdrawal.

11. Regular cheques generally include : - a drawee the financial institution where the cheque can be presented for payment - a payee the entity to whom the maker issues the cheque

12. Traveller’s Cheque
is designed to allow the person signing it to make an unconditional payment to someone else as a result of paying the account holder for that privilege

13. - Traveller's cheques can usually be replaced if lost or stolen; they are often used by people on vacation instead of cash - A check may also be dishonored because it is stale or not cashed within a "void after date."