Question

The cheque that has the name of payee on it is known as ---.

• A. Bearer cheque
• B. Crossed cheque
• C. Order cheque
• D. Blank cheque

Answer 1

Answer:

C. Order cheque

Types of cheque 

• Bearer cheque : does not need name of payee 

• Order cheque : name of payee 

• Post dated cheque : future date of issue cannot be encashed 

• Ante dated cheque : bearing a date prior to the date of drawing 

• Stale cheque : cheque circulating for more than 3 months 

• Marked cheque : Marked for goods payment (Banker - request of drawer - Banker guarantees the amount even in cases of death or insolvency)