DEFINITION
A cheque is an unconditional order addressed to a banker, signed by the
person who has deposited money with a banker, requesting him to pay on
demand a certain sum of money only to the order of the certain person or
to the bearer of the instrument.
TYPES OF CHEQUES
1) Bearer Cheque
Bearer cheques are the cheques which withdrawn to the cheque's
owner.These types of cheques normally used for a cash transaction.
2) Order Cheque
Order cheques are the cheques which are withdrawn for the payee(the
cheque withdrawn for whose person).Before withdrawn to that payee, banks
cross check the identity of the payee.
3) Crossed Cheque
On that type of cheques two parallel line made on the upper part of the
cheques, then that cheques formed to crossed cheques.This type of
cheques payment does not formed in cash while the payment of that type
pf cheques transferred to the payee account and the normal person's
account who recommend by the holder on the cheque.
4) Account Payee Cheque
When two parallel lines along with a crossed made on the cheque and the
word 'ACCOUNT PAYEE' written between these lines, then that types of
cheques are called account payee cheque.The payment of the account payee
cheque taken place on the person, firm or company on which name the
cheque issue.
5) Company Crossed Cheque
When two parallel lines along with a cross made on the cheque and the
word 'COMPANY' written between these lines, then that types of cheques
are called company crossed cheques.Then the type of withdrawn does not
take in cash while the person on which the cheque issue, transferred on
its account.Normally crossed cheque and company crossed cheque are same.
6) Stale Cheque
If any cheque issued by a holder does not get withdrawn from the bank
till three months, then that type of cheques are called stale cheque.
7) Post Dated Cheque
If any cheque issued by a holder to the payee for the upcoming withdrawn
date, then that type of cheques are called post-dated cheque.
8) Anti Dated Cheque
If any cheque issue for the upcoming withdrawn date but it withdraw
before the date printed on the cheque, then that type of cheques are
called anti dated cheques.