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Cheque With Words "Order" Or "Bearer" Omitted |
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Free Books / Finance / Canadian Banking Practice / | |
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Cheque With Words "Order" Or "Bearer" Omitted |
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This section is from the book "Canadian Banking Practice", by John T. P. Knight.
This section is from the "" book, by .
Question 40. - A note is drawn payable to "John Jones" simply, the words "order" or "bearer" being omitted. Is such a note negotiable? Does the same rule apply to a cheque?
Answer. - A bill or cheque so drawn is payable to "order" (sub-sec. 1, sec. 22, Bills of Exchange Act).
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