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According to section 125 of the negotiable instrument act, who can cross the cheque?
I. The drawer
II. The holder
III. The banker
IV. The drawee
V. The payee
I. The drawer
II. The holder
III. The banker
IV. The drawee
V. The payee
- a)I, II & III
- b)II, III & V
- c)II, IV & V
- d)I & II
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
According to section 125 of the negotiable instrument act, who can cro...
A cheque is how a person who has funds in the hand of a bank withdraws the same or some part of it.
Section 6 of the negotiable instrument Act defines a cheque as a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque and s cheque in the electronic form.
Hence, the correct answer is Option(a).
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Community Answer
According to section 125 of the negotiable instrument act, who can cro...
Explanation:
Who can cross the cheque?
- The drawer: The drawer of the cheque can cross it by drawing two parallel transverse lines on the top left corner of the cheque.
- The holder: The holder of the cheque, who is in possession of it, can also cross the cheque.
- The banker: The banker can also cross the cheque as per the instructions provided by the drawer.
Therefore, the correct answer is option 'A' - I, II & III.
Who can cross the cheque?
- The drawer: The drawer of the cheque can cross it by drawing two parallel transverse lines on the top left corner of the cheque.
- The holder: The holder of the cheque, who is in possession of it, can also cross the cheque.
- The banker: The banker can also cross the cheque as per the instructions provided by the drawer.
Therefore, the correct answer is option 'A' - I, II & III.
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