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Which of the following is a characteristic of a bearer cheque

Commerce
JAMB 2012

Which of the following is a characteristic of a bearer cheque

  • A. it is made with transverse lines
  • B. it is made payable to whoever presents it
  • C. it is made without transverse lines
  • D. it is only payable into the payees account
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Correct Answer: Option B
Explanation

A bearer cheque is payable to the bearer of the cheque.

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