basic doubt in negotiable inst.

HOW CAN IT BE POSSIBLE YAR NO NO NO!!!!!!!!!!

It cant b possible. A/C payee cheque is payable only to the a/c holder or his/her legal representative. So its more secured thn the cheque wthout havin crossed.

if the cheque is 'crossed and A/c Payee only' then it will honour in Your and Your favour only. that is to say, the cheque can be cleared in favour of your account only. U can not endorse it in favour of your father (like any other Bill of Exchange). In stead, u will have to deposit in your bank account and then reissue another cheque in favour of your father (if u want to transfer cash in favour of your father).

hope the querry is solved.

A/C PAYEE CROSSING MEANS NOW THE CHEQUE IS PAYABLE TO A/C OF THAT PAYEE ONLY YOU CAN NOT NEGOTIATE IT TO OTHER MEANS NOW IT IS RESTRICTIVE CROSSING

if the cheque is 'crossed and A/c Payee only' then it will honour in Your and Your favour only. that is to say, the cheque can be cleared in favour of your account only. U can not endorse it in favour of your father (like any other Bill of Exchange). In stead, u will have to deposit in your bank account and then reissue another cheque in favour of your father (if u want to transfer cash in favour of your father).

hope the querry is solved.