THE NEW LAW ON CROSSED CHEQUES.

Evening Star, Issue 4295, 1 December 1876, Page 4

THE NEW LAW ON CROSSED CHEQUES.

The last Act of the session (says the ‘European Mail’) was to amend the law relating to “ crossed cheques.” It is now. in operation, repealing two former acts and declaring the law on the subject. There are general and special crossings. A “ general crossing ” means where a cheque bears across its face an addition of the words “ and company,” or an abbreviation thereof between two parallel transverse lines, or two parallel transverse lines simply, and with or without the words “not negotiable.” A “special crossing ” is where the name of a banker is put. The public are now informed “ that where a cheque is uncrossed a lawful holder may cross it generally or specially. Where a cheque is crossed generally a lawful holder may cross it specially. Where a cheque is crossed generally or specially a lawful holder may add the words 1 not negotiable.’ Where a cheque is crossed specially the banker to whom it is crossed may again cross it to another banker, his agent, for collection.” A crossing authorised by this Act is to be deemed a material part of the cheque, and it is not lawful for any person to obliterate, or, except as authorised by the Act, to add or alter the crossing. There are twelve sections in the Act in reference to “ crossed cheques.”