A cheque issued in January 1997 which the holder failed to present for payment until
COMMERCE
WAEC 2010
A cheque issued in January 1997 which the holder failed to present for payment until September 1997 is called a
- A. traveller's cheque
- B. post-dated cheque
- C. stale cheque
- D. crossed cheque
Correct Answer: C. stale cheque
Explanation
stale cheque is a cheque that was written too long ago and that a bank may refuse to pay when someone tries to get the stated amount:
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