The following one is absolutely essential for a special crossing :
Name of a banker
Under Sec. 124 of the Negotiable Instruments Act, 1881 (and Sec. 123 for general crossing), a cheque is crossed specially when the name of a banker is added across its face, with or without the words Not Negotiable. The paying banker must then pay only to that named banker.
Two parallel transverse lines with or without the words And Company are the features of a general crossing. The words Not Negotiable are only an optional addition that limits the transferee's title, and the words And Company are not required at all for a special crossing.
Hence, the answer is the name of a banker.
Similar Questions
Non-acceptance is a valid mode of dishonour for :
Days of grace under NI Act, 1881 applicable to :
The word ‘negotiation’ was defined in the NI Act, 1881 under Section:
Which section of the NI Act, 1881 justifies the dishonour of the cheque ?
Important Questions from Negotiable instrument Act, 1881
- Which of the following is not a negotiable instrument?
- Match List – I with List – II and select the correct answer using the codes given below :
List – I List – II i. Inchoate stamped instrument a. Union Bank of India Vs. Ankur Corp. ii. Liability of acceptor of a negotiable instrument b. Section 31 of the Negotiable Instrument Act iii. Liability of an endorser c. Section 35 of the Negotiable Instrument Act. iv. Liability of the drawee of a cheque. d. Section 20 of the Negotiable Instrument Act.
Codes : - Which of the following statements are correct ? Answer using codes given below :
In order that a person can be called a holder in due course, he must show :
i. that he is the drawer of the negotiable instrument.
ii. that he has obtained it without consideration.
iii. that he has obtained it before the maturity of the negotiable instrument.
iv. that he has obtained the negotiable instrument in good faith.
Codes : - Read Assertion (A) and Reason (R) and answer using code below :
Assertion (A) : Where a bill is unintentionally cancelled by the holder or his agent and the cancellation is not apparent thereon, the bill is discharged.
Reason (R) : Above principle is laid down in Section 82 of the Negotiable Instruments Act.
Code : - Which one of the following statements is true ?
