Ques. Cross cheque is payable by whom?

Ans.: Darwee 

Explanation:

A crossed cheque is a cheque that is payable only through a collecting banker and not directly at the counter of the bank. Two parallel transverse lines, with or without any word, are generally drawn on the top left-hand corner of the cheque.

Number of Parties involved with a Cheque

Under the cheque mode of fund payment, there are three parties which are involved for on-track movement of money through a written paper source.

a) Drawer or Maker

He/she is the customer or account holder who issues the cheque.

b) Drawee

It is basically the bank on which the cheque is drawn and is called the “Drawee”. Always remember that a cheque is always drawn on a particular banker.

c) Payee

The individual who is named in the cheque for getting the payment is known as the “Payee”. Interestingly, the drawer and the payee can be the same individual in a particular case.