From: utzoo!watmath!jcwinterton
Newsgroups: net.misc
Title: Re: Do we need to buy checks?
Article-I.D.: watmath.4209
Posted: Fri Jan  7 21:30:42 1983
Received: Fri Jan  7 23:58:04 1983
References: rocheste.369

	Back in the late '50s and early '60s when I worked for a bank the
Bills of Exchange Act would allow ANY instrument to be used as a bill of
exchange provided it had the legal wording.  Any document could be used
as a negotiable instrument provided it had the phrase "Pay to the order
of .... " an amount and a signature.  It also had to be drawn on a
recognized bank or clearing house.  If it was not drawn on a clearing
agency, then it could be "accepted" by someone who had such an account.
I have seen cheques written on egg shells, steel plates and other misc-
ellaneous materials.  The most interesting one was to pay off a mortgage
and was written on a glazed brick.
	Alas, with the coming of automated clearing, the banks and the
bankers' associations have caused the various acts to be amended so that
not only must cheques be written on paper, but of paper in a range of
permissable sizes.  If this is not done, the banks will impose an
enormous and fully permissable service charge on the item in question and
may refuse to honour it.  Sigh!  Things sure aren't like they used to be
in the old days ...
		John Winterton (watmath!watbun!jcwinterton)