Bills of Exchange‚ Cheques & Promissory Notes : 1 Bills of Exchange‚ Cheques & Promissory Notes Theory‚ principle‚ concept And Operational significance Objectives : 2 Objectives Theory and Principles Negotiable instruments. Definition and features of bill of exchange. Cheque‚ components‚ features and crossing To understand the components of cheques. Return cheques & BMC Difference between bills of exchange and cheques To define promissory notes. Theory : 3 Theory Money as
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BANK RECONCILIATIONS NOTES In order to verify the amount reflected in our bank account at the end of each month‚ a reconciliation must be made with the balance according to our bank account and the balance as reflected on the Bank Statement. The bank will send us a statement of our account towards the end of each month. Take note of the following with regard to the Bank Statement: 1. The bank will view the business as a CREDITOR since cash in the business account belongs to
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CATCHWORDS: Bank — Cheque — Condition restricting use — New cheque book on bank’s change to computer mechanisation — Cheque book bearing on cover notice that it was only to be used for account for which issued — Cheque altered by customer for use for account with another branch‚ which was later instructed by customer not to pay cheque — Ink alterations not capable of being read by computer — Cheque met by branch issuing cheque book — Whether notice on cover and used of cheque book by customer varied
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Negotiable Instrument 6 3 Features of Negotiable Instrument 8 4 Types of Negotiable Instruments 10 5 Promissory Notes 10 6 Evolutions in Promissory Notes 13 7 Bills of Exchange 16 8 Cheque 22 9 Section 138‚ Negotiable Instruments Act 23 10 Ingredients of offence under section 138 24 11 Revolution in cheques 27 12 Necessity to Introduced Negotiable Instruments 31 13 Evolution 33 14. Revolution 35 15. Revolution of Payment Systems in India 39 16. Case Study 1 43 17. Case Study 2 45 18. Case
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23 times to meet the needs of the time. The last amendment was made in 2002. Preamble It became a statutory necessity to enact law governing Promissory Notes‚ Bills of Exchange and cheques. What is a Negotiable Instrument Section 13:- " A Negotiable instrument means a promissory note‚ bill of exchange or cheque either to order or bearer." This definition does not say anything about the characteristics of a negotiable instrument but it mentions about instruments‚ which can be legally called as
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COLLECTION: The collection system basically deals with: OUTSTATION CHEQUE: If a cheque issued in one city and to be cashed in another city‚ it is called outstation cheque. Eg. Ram live in Delhi receives cheque from a person in Bombay and the cheque is drawn on a bank in Bombay and Ram present into bank in Delhi for clearance‚ it is called outstation cheque. INSTATION CHEQUE: If a cheque issued in one city and to be cashed in same city‚ it is
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CONTENTS TOPIC PAGE NO. 1. INTRODUCTION 2. EVOLUTION OF NEGOTIABLE INSTRUMENTS 3. WHAT ARE NEGOTIABLE INSTRUMENTS 4. NEGOTIABLE INSTRUMENTS ACT‚ 1881 5. TYPES OF NEGOTIABLE INSTRUMENTS 6. CHARACTERISTICS OF CHEQUE‚ BILL OF EXCHANGE AND PROMISSORY NOTE 7. DISTINGUISH BETWEEN 8. EXCEPTIONS 9. SECTION 134 TO 137 OF AN INTERNATIONAL LAW 10. DISHONOUR OF NEGOTIABLE INSTRUMENTS 11. REVOLUTION OF PAYMENT SYSTEMS IN INDIA 12. CURRENT SCENARIO
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Bill of Exchange 6.2. Characteristics of Bill of Exchange 6.3. Specimen of A Bill Of Exchange 7. Cheque 7.1. Definition of Cheque 7.2. Essential Elements of a cheque 7.3. Specimen of a Cheque 7.4. Types of Cheque 7.5. Dishonor of Cheques 7.6. Five Ingredients of the offence 8. Difference between Promissory Note and Bill of Exchange 9. Difference between Bill of Exchange and Cheque 10. Hundis 11. Types of Hundis 12. JVC Case study. 8. Summary 9. Bibliography.
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1-1050 Cash on Hand (Header) 1-2100 General Cheque Account 1-2140 Petty Cash 1-0021 Furniture and Fittings at Cost 1-0022 Acc Dep - Furniture and Fittings at Cost 6-3100 Telephone 6-3200 Utilities 6-3300 Local Transport 6-3400 Rent 6-3500 Insurance 6-3600 Printing and Stationery Capital contribution of RM 50‚000 on 1/7/2008 by the owner of the company‚ Mr. John W Smith to start his company 3/7/08 Received another cheque for RM50‚000 from Mr. John W Smith for additional
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statement but which are not in the cash book‚ e.g.‚ dishonoured cheques or bills‚ interest and bank charges‚ standing order (an order made to the bank to make a regular payment)‚ dividends or interest income credited direct to the bank and payments by customers which are paid direct to the bank. c) Items (not consisting of errors) which appear in the cash book but which do not appear in the bank statement. These are confined to outstanding cheques and outstanding deposits. d) Errors made in the compilation
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