Final answer:
To negotiate a cheque payable to a business and a person, the business and the individual need to communicate and agree on how the funds should be distributed. This can involve discussing and coming to an arrangement about the division of the payment between the two parties.
Step-by-step explanation:
Negotiating a cheque payable to a business and a person involves communication and agreement between the two parties. To negotiate such a cheque, the business and the person named on the cheque would need to reach an agreement on how the funds should be distributed. They may discuss and agree on the division of the payment, decide on a percentage or fixed amount for each party, or come up with another arrangement that suits both parties.
For example, if a cheque is payable to a business and an individual, they may decide that a certain portion of the payment goes to the business for goods or services provided, while the remaining amount goes to the individual for their personal use. This negotiation process can be done verbally or in writing, often through discussions and agreements between the parties involved.
Please note that negotiating a cheque may require legal and financial expertise, so it is always recommended to consult with professionals such as lawyers or accountants for guidance.