A cheque made payable to “bearer”

Commerce WAEC 1990

A cheque made payable to “bearer”

  • Can be negotiated for cash by the drawer only
  • can only be paid into an account
  • can be negotiated for cash by any holder checkmark
  • is not regarded as a negotiable instrument
  • must be endorsed to another account for settlement

The correct answer is: C

Explanation

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