A(n) ________ Is a Seagoing Common Carrier Operating Over Established

question 60

Multiple Choice

A(n) ________ is a seagoing common carrier operating over established routes with a stated rate schedule.

• A) conference line
• B) independent line
• C) common carrier
• D) free carrier

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Definitions:

Payor Bank

A bank that is responsible for paying the check or draft drawn on the funds deposited in an account.

Unauthorized Signatures

Signatures made without the proper permission or authority, potentially voiding or bringing into question the validity of the document signed.

Alterations

Changes or modifications made to documents, clothing, property, or other objects, often requiring consent or agreement when concerning legal or contractual matters.

Oral Stop Payment Order

A verbal instruction given to a bank requesting that payment on a check or other financial instrument be stopped.