A Check Received After Banking Hours Is Considered Constructively Received

question 25

True/False

A check received after banking hours is considered constructively received by the payee even though the check cannot be converted to cash.

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Definitions:

1950s

A decade marked by post-World War II recovery, the beginning of the Cold War, and significant social and economic changes in many parts of the world.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies, roughly from 1947 to 1991, characterized by threats, propaganda, and other measures short of open warfare.

Third World

A term originally used to describe countries that were not aligned with either the capitalist NATO bloc or the communist Soviet bloc during the Cold War, now often used to refer to developing countries.

American Freedom

The ideals and practices of liberty, rights, and democracy that are foundational to the United States and its national identity.