After reading this article you will learn about the nature of account opened in a bank. Joint Accounts: A joint account is a banking account maintained by two or more people. All must sign on any relevant documents unless the mandate provides otherwise. All are jointly liable for any overdraft unless mandate establishes joint and several liability. On the death [...]
This article throws light upon the four types of crossing of a cheque. The types are: 1. Cheques Crossed Generally 2. Crossing after Issue 3. Antedated Cheque 4. Post Dated Cheque. Type # 1. Cheques Crossed Generally: The cheque bearing across its face an addition of the words 'and company' or any abbreviations thereof between two parallel transverse lines, with [...]
This article will guide you about how to use a cheque. 1. On the right hand side there is space to mention the date when the cheque is issued. (It is mandatory to mention the date on the cheque without which a cheque can be dishonored) Please write at least month in words like June 2011. 2. In next line [...]