Examlex
_____ is the algorithm implemented on most systems.
Notice Of Dishonor
A formal notification that a negotiable instrument, such as a check or draft, has been presented for payment and has been dishonored due to insufficient funds or other reasons.
UCC
The Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, including sales, negotiable instruments, and secured transactions.
Collecting Bank
A bank that handles the presentation of payment documents, such as checks, for a depositor.
Endorser
A person who signs a negotiable instrument on the back to transfer ownership or to guarantee payment to someone else.
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