Question

Define cheque explain the essentials of a valid cheque

Answer 1

the Reserve Bank has decided to reduce the validity of cheques andbank drafts from the six months to three months since 2012. ... From 1 April 2012, cheques, drafts, pay orders and banker's cheques will be valid for only three months. Currently, these instruments are valid for six months from the date of issue.

Answer 2

A cheque is a paper instructing the bank to a specific amount from the person"s account to the person in whose name the cheque has been issued .

Essentials of a valid check :-

♥ It must be in writing.

♥ It must certain and unconditional order to pay.

♥ It must contain an order to pay in terms of money.

♥ It must contain an order to pay a definite amount of money.

♥ It must be signed by the drawer.

Hope it helps ✌

Shreya ❤