Not negotiable crossed cheque.
Dipal Shah (student) (53 Points)
04 September 2018is this correct or incorrect.
please explain.
Dipal Shah (student) (53 Points)
04 September 2018
Kanika khetan
(Sr. Associate)
(331 Points)
Replied 04 September 2018
A crossed cheque is one which is payable only in the bank account mentioned on it. For being a negotiable instrument it is essential that the instrument is transferable whereas this is not the case which a crossed cheque. Therefore is is non negotiable. And as the amount is payable only to the account mentioned it is non traferable as well.
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