define cheque 10std social science
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A cheque, is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.
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Definition: "Cheque refers to a negotiable instrument that contains an unconditional order to the bank to pay a certain sum mentioned in the instrument, from the drawer’s account, to the person to whom it is issued, or to the order of the specified person or the bearer."
A cheque has three parties:
Drawer: The person who signs the check and instructs the bank to pay the amount.
Drawee: The bank on which the cheque is drawn or the person to whom the cheque is directed to pay the stated amount.
Payee: The beneficiary, or the person to whom the money is to be given.
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