A crossed cheque with the inscription 'not negotiable' must be paid into the?
Answer Details
A crossed cheque with the inscription 'not negotiable' must be paid into the current account of the payee. The phrase 'not negotiable' on a crossed cheque implies that the cheque cannot be endorsed and transferred to another person. Instead, it can only be paid into the account of the payee, and the bank is not obliged to verify the payee's title to the cheque. Therefore, the cheque cannot be paid into the current account of the drawer or the savings or fixed account of the payee, but only into the current account of the payee.