When a Customer Deposits a Check into a Checking Account

question 9

True/False

When a customer deposits a check into a checking account for collection,the depository bank does not have to pay the customer the amount of the check until the check "clears," which is when final settlement occurs.

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Definitions:

Real Estate

Property consisting of land or buildings, and anything affixed to the land, which can include residential, commercial, and agricultural properties.

Remove Soil

The act of excavating or relocating dirt, sand, or earth from one location to another, often for construction or landscaping purposes.

Trade Fixtures

Personal property that a tenant installs on a leased property for business purposes, which can be removed at the lease's end.

Real Estate

Property consisting of land or buildings, and any natural resources or rights associated with it.