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The most likely location for the formation of a spit is:
Notice of Dishonor
A formal notification that a negotiable instrument, like a check, has been refused payment.
Dishonored
Refers to the refusal or inability to pay a financial obligation when due, such as a bounced check or a default on a payment.
Notice of Dishonor
A formal notification indicating that a financial instrument, like a check or draft, has been presented for payment and refused.
Collection Bank
A financial institution involved in processing checks and payments on behalf of other banks or entities.
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