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Deposit Agreement
A legal arrangement wherein one party places an asset under the control of another party, often a financial institution, with specific terms governing its management and disposal.
UCC
Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing commercial transactions in the United States.
Depositor
An individual or entity that places money into a bank account, trusting the bank for safekeeping and potentially earning interest.
Teller's Check
A check drawn by a bank on its own funds and signed by a teller, representing a guarantee of payment, often used in transactions requiring secure funds.
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