A cheque is a written instruction authorising the bank to pay a specific amount of money to the person who name is on it, while the check is pays the banks debit the owner’s bank account by the amount of money paid down for the cheque to be honour the owner of the cheque should fulfil the following instruction.
- You must have a current bank account in a bank
- You must have sufficient amount of money in the banks
- Cheques that cannot be honour are called bounced cheque in Cameroon a citizen who issues a bounded cheque commit a crime and merit part sentence.
A genuine cheque possesses the following features
- The name of the bank
- The name and signature of the personne
- The amour to be paid written on words and figures
- The date of issue
A cheque involves 3 part
- The drawer
- The drawee
- The payee
TYPES OF CHEQUES
There are two types of cheque: Open cheques and cross cheques.
- Open cheque
they have no cross on them and can be cashed by anyone who possesses the cheque.
There are two types of open cheques:
-Blazer cheque
These can be catch by anyone who possess the cheque without any former.
-Ordered cheque
This one contains the name of the person to whom it has been part
- Cross cheque
This type of cheque has paraxial line drawn on its face.
they are two types of cross cheque
-General cross
this is a cheque that bears general crossing on it
-Special cross
It is a cheque with special cross on it with the name of the banks mentioned on it