"Not Negotiable" on a cheque means

Assessment: WAEC SSCE - Commerce - 2013 (Objective) Subject: Commerce

Question 1 Report

"Not Negotiable" on a cheque means

Answer Details
When a cheque is marked "Not Negotiable," it means that it cannot be transferred to another person by endorsement, and the person receiving the cheque does not gain a better title to the funds than the person who originally wrote the cheque. This designation is meant to prevent the cheque from being used as a form of currency and to ensure that the intended recipient receives the funds. In other words, "the holder has no better title than the person who transfers it" is the correct answer.
Read lesson note on Legal Aspect Of Business (WAEC)
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