In a cheque, the drawee is always:
AA specified banker
BAny individual
CThe payee
DThe endorser
Answer & Solution
Correct answer: A. A specified banker
Since a cheque is drawn on a specified banker payable on demand, the drawee of a cheque is always the banker.
Keep practising Negotiableinstruments
Browse all Negotiableinstruments questions for CA Foundation, or explore more Businesslaw topics.
Related questions
CA Foundation · Businesslaw · Negotiable InstrumentsUnder Section 63, when a bill is presented to the drawee for acceptance, he may be allowedA 'foreign instrument' is:An inland instrument that is subsequently indorsed in a foreign country:Under Sections 11-12, an 'inland instrument' is one drawn or made in India and:An 'order instrument' is negotiated by:A bill of exchange has three parties, namely:A promissory note has how many parties?