Which of the following would NOT result from a countermand of payment of an open bearer cheque?
A) The cheque will become stale.
B) The financial institution will be liable to the customer if they pay the cheque.
C) The financial institution on which the cheque is drawn must refuse payment of the cheque.
D) The drawer may still be liable to a holder in due course for the amount of the cheque.
Correct Answer:
Verified
Q30: In what circumstances would you write a
Q31: The case of: Commonwealth Trading Bank of
Q32: Which of the following statements about a
Q33: Crossing a cheque means that the cheque
Q34: If Chris steals an open bearer cheque
Q36: If a cheque is paid after being
Q37: A stale cheque is one that has
Q38: The drawee is the person upon whom
Q39: Adam writes a cheque in favour of
Q40: A bearer cheque is negotiated by indorsement
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents