What do you mean by cheque

A cheque is a financial instrument and a negotiable instrument under the Negotiable Instruments Act, 1881. It serves as an unconditional written order from an account holder (the drawer) to their bank (the drawee) to pay a specific sum of money to a designated person or entity (the payee). Key features include:

• Payable on demand when presented to the bank.
• Valid for three months from the date of issue.
• Requires the drawer's signature and specific details like the date and amount.
• A secure alternative to carrying large amounts of cash.