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Statement I A cheque is an unconditional order to a specified...

This question belongs to Commerce Legal Aspects Of Business
Legal Aspects of Business
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Statement I A cheque is an unconditional order to a specified banker to pay the sum mentioned in the cheque.
Statement II A cheque can be drawn only by a person who has his account with bank while a bill can be drawn by any person.
Statement III A cheque may be crossed but a bill of exchange can not be crossed.
Which of the following statement(s) is/are true?

Answer & Solution
Correct Answer: Option D
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