An open cheque is one

Commerce

JAMB 2025

A. Which can be cashed over the counter
B. Which has no name
C. Which has no specific amount written on it
D. on which the amount is written only in figures

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Correct Answer: Option A

Explanation

An open cheque is a cheque that is not crossed on the left corner and payable at the counter of the bank. An open cheque may be a
bearer cheque or an order one. It means the bank can pay the cheque amount to the person who presents it, even if he is not the
drawer or the payee.

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