Law · Negotiable Instruments Act
Which of the following statements correctly describes a 'Bearer Cheque'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It requires mandatory deposit into a bank account and cannot be encashed over the counter.
- 2It is a legal notice issued by a Notary Public upon dishonor.
- 3It is payable to the person who holds/presents it for encashment at the bank counter.✓
- 4It is payable only to the specified payee or their legal order.
Correct answer
It is payable to the person who holds/presents it for encashment at the bank counter.
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