What is cheque class 10

A cheque is a document used for cashless payments that acts as a written order to a bank to pay a specific amount from the drawer's account to a named person or the bearer. As per the Negotiable Instruments Act, 1881, it involves three parties:

• Drawer: The person who issues and signs the cheque.
• Drawee: The specific bank directed to pay the money.
• Payee: The beneficiary who receives the payment.

Cheques are valid for three months from the date of issue and provide a secure, traceable alternative to cash.