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What is the blank?

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โˆ™ 2015-10-05 18:08:34

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A blank cheque is one in which the issuer has signed but has not mentioned the amount in it. He may or may not have mentioned the payee.

Such a cheque is considered blank because of the non entry of amount in it and the payee can fill any amount he wants. Once done the cheque stands valid because of the presence of the account holders signature and the issuer is bound to pay that amount.

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Albin Koepp

Lvl 9
โˆ™ 2022-08-17 02:47:32
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Algebra

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