Cheques may be made payable :
– to a named person, with or without an express “to order” clause ;
– to a named person, with the clause “not to order” or an equivalent clause;
– to bearer.
A cheque payable to a named person, with the words “or to bearer” or an equivalent term, is treated as a bearer cheque.
A cheque without any indication of the beneficiary is treated as a bearer cheque.