A cheque is an unconditional order addressed to a banker, signed by the person who has deposited money with a banker, requesting him to pay on demand a certain sum of money only to the order of the certain person or to the bearer of the instrument.
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Mutilated Cheque:
If a cheque is torn into two or more pieces such a cheque is a Mutilated Cheque. If it is presented for payment, such a cheque the bank will not make payment against such a cheque without getting confirmation of the drawer. In case, if a cheque is torn at the corners and no material fact is erased or cancelled, the bank may make payment against such a cheque.
If the payee is clear, the signature and the MICR line are intact – they can process it. There are sealable plastic carriers used to put such cheques through the high-speed transports used in Clearing.
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