Q425
A cheque crossed as ‘Payees a/c only” is direction to
A.
The payee not to negotiate the cheque.
B.
The paying banker to ensure that the proceeds of the cheque are credited to the payees a/c only.
C.
The collecting banker to ensure that the proceeds of the cheques are collected for the account of the payee only.
AnswerD.
None of the above
Answer: Option C
Solution
Answer: Option C
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