Created: 1 year ago | Updated: 8 months ago | Created By:
Maliha Mou
Maliha Mou
Cheque
Topic: India
On the basis of acceptability, money has been classified into legal tender and optional money. Legal tender money is enforced by law. Optional money is that money which may or may not be accepted as a means of payment; it has no legal sanction. Different credit instruments, like, cheques, bank drafts, etc., are the examples of optional money.

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