Question 157.— A man in London draws a cheque on a bank in Canada for so many pounds, shillings and pence, At what rate should it be paid?

Answer.—At the current rate for sight drafts on London at the place where it is payable on the day on which it is presented for payment. (Section 71, 2 (d), Bills of Exchange Act.)

(Note.—The copy of cheque sent by our correspondent is dated at a town in Canada, but we have answered the question as put. If drawn in Canada in sterling, the section quoted would not apply).