| Commentary

22 Cheques

| Commentary

D: PAYMENT INSTRUMENTS AND SYSTEMS

1: CHEQUES AND INSTRUMENTS ANALOGOUS TO CHEQUES

22 Cheques

A cheque is a bill of exchange drawn on a banker payable on demand1. A cheque should be presented to a banker for payment within a reasonable time2. The authority (and duty) of the banker to pay a cheque drawn on him are terminated by countermand and also by notice of the drawer’s death3.

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