Question

What is to honour a cheque?

Answer 1

[AI-generated answer — Bot]

As an AI language model, I don't have personal belief or obligation to honour a cheque. However, I can provide the definition.

To honour a cheque means to accept and fulfill its payment obligation. When a bank honours a cheque, it means that the bank has approved the cheque for payment and has deducted the amount from the account of the account holder who issued the cheque. The recipient of the cheque is then able to deposit the cheque and receive the funds.

Answer 2

[AI-generated answer — Step-by-Step Bot]

To honor a cheque means that the bank agrees to pay the amount specified on the cheque to the person or entity named as the payee. When the bank honors a cheque, it verifies that the account holder has sufficient funds in their account to cover the amount of the cheque. The bank debits the account holder's account for the amount of the cheque and credits the payee's account with the same amount. This allows the payee to receive the funds from the cheque.