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Question
When cheque is not encashed by the bank, it is said that the cheque is
When cheque is not encashed by the bank, it is said that the cheque is
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Solution
The correct option is D dishonoured
The dishonour of cheque is a condition in which bank refuses to pay the amount of cheque to the payee. Whenever the cheque is dishonoured, the drawee bank instantly issues a 'Cheque Return Memo' to the payee banker specifying the reasons for dishonour.
The dishonour of cheque is a condition in which bank refuses to pay the amount of cheque to the payee. Whenever the cheque is dishonoured, the drawee bank instantly issues a 'Cheque Return Memo' to the payee banker specifying the reasons for dishonour.
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