Cheque

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Cheque

From Wikipedia, the free encyclopedia
 
A cheque with Thomas Jefferson as payee and payor from 1809 A cheque from 1905 A cheque from 1933 A cheque sample from Canada 2006
       

A cheque (or check in American English) is a document that orders a bank to pay money from an account. The person writing the cheque, the drawer, has a transaction banking account (often called a current, cheque, chequing or checking account) where their money is held. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.

Cheques are a type of bill of exchange and were developed as a way to make payments without the need to carry large amounts of money. While paper money evolved from promissory notes, another form of negotiable instrument, similar to cheques in that they were originally a written order to pay the given amount to whoever had it in their possession (the "bearer").

Technically, a cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution. Both the drawer and payee may be natural persons or legal entities. Specifically, cheques are order instruments, and are not in general payable simply to the bearer (as bearer instruments are) but must be paid to the payee. In some countries, such as the US, the payee may endorse the cheque, allowing them to specify a third party to whom it should be paid.

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Domain is like the shopfront of your business. You might be just starting a new business, with the actual shopfront you will need to thousands of dollars to dress up the place, stock-up the store...what's next? Wait for the first visitor to come. Have you consider before everything is moving, you might want to announce to the world the new business you have hatched.

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