If a Drawer Has a Check Certified, the Drawer Is

question 48

Short Answer

If a drawer has a check certified, the drawer is still ____________________ liable for payment of the check.

---

Definitions:

Partnership Interest

An ownership share in a partnership that represents the holder's stake in the partnership's profits, losses, and capital.

FMV

Fair Market Value, the price that a willing buyer and seller would agree on when both parties are informed and under no pressure to trade.

FMV

Fair Market Value, the price at which a property would sell under normal conditions.

Basis

The amount of investment in property for tax purposes, used to calculate gain or loss on the sale, exchange, or other disposition of the property.