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A stale cheque is one on which the date for payment is

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Commerce WAEC 2009

A stale cheque is one on which the date for payment is

  • overdue checkmark
  • yet to come
  • missing
  • due

The correct answer is: A

Explanation

A stale cheque is one in which the named date is outdated and hence cannot be honored by the bank. The validity of the cheque is six months from the date of the issuance. (This is however subject to change. Some countries' validity period is 3 months)

 

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