MEANS OF PAYMENT

------------------------------ is where payment for goods and services is made using notes and coins.

A ----------------------------------- is a written order by the account holder to his bank to pay on demand a specified amount of money to the named person or to the bearer

An -------------------------------- can be cashed over the counter i.e. the payee can receive cash when/she presents the cheque to the drawee (bank).

A --------------------------------- must be deposited in payee’s bank account i.e. when the payee takes the cheque to the bank, the bank increases the money in his/her account

A cheque is ---------------------------------- when the bank refuses to pay

A dishonoured cheque is also known as a -------------------------

----------------------------------------- is an unconditional order, made in writing, addressed by one person to another, requiring the person to whom it is addressed to pay on demand, or at a stated future date, the sum of money indicated on the bill to a named person or to the bearer.

------------------------------------- is a document whereby one person promises to pay another person a specified sum of money at a certain stated date.

----------------------------------- is a document which is sold by the post office for the purpose of remitting money

--------------------------------- are documents which are sold by the post office in fixed denominations such as Ksh 50, Ksh 100 and Ksh 500 and are used to remit or make payments for small amounts.