Which of the following statements about a cheque are correct?
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A cheque is a negotiable instrument containing an unconditional order to pay money.
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A cheque must be signed by the payee to be valid.
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A cheque is payable on demand to a specified person, their order, or bearer.
1
1 only
2
2 only
3
3 only
4
1 and 3 only
5
1 and 2 only