Cheque

High school (ages 12+)
Mathematics & Numbers

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/cheque

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the historical precursor?Goldsmiths' receipts and orders from the medieval period
2. What is the essential legal element?Must be signed by the drawer to be valid
3. How does a cheque work?When someone puts a cheque in their bank, the bank sends it to the bank that wrote the cheque. That bank checks the signature, makes sure there is enough money, and then moves the money to the first bank. It can take a few business days before the money is ready.
4. Why do people still use cheques?People still use cheques because they leave a paper record that is easy to keep in books. Some older people or places that don't use many computers also like cheques. Cheques are also used for big payments like buying a house.

Bill of Exchange: A written order from one party to another to pay a specified sum of money.
Clearing House: An institution where banks exchange cheques and settle debts between themselves.
Dishonored Cheque: A cheque that a bank refuses to pay, often due to insufficient funds.