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GCE Commerce 1989 Question 60

Question 60

Banking

When a cheque has special crossing it should be

  1. A.cashed by the drawer
  2. B.cashed over the counter
  3. C.paid into a named bank
  4. D.paid to the drawee
  5. E.paid into the Central Bank
Show the answer and explanation

Answer: C (paid into a named bank)

Explanation

A special crossing names a bank, and the cheque can only be paid into that bank.