Blank Checks

question 113

Multiple Choice

Blank checks

• A)should be safeguarded.
• B)should be presigned.
• C)do not need to be safeguarded since they must be signed to be valid.
• D)should not be prenumbered.

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Definitions:

Contract Discharge

The conclusion of a contractual obligation, either through completion of the contract terms, mutual agreement, or other legal methods.

Novation

The process of substituting a new contract or obligation for an old one, requiring the agreement of all parties involved.

Three-Part Test

A methodological framework consisting of three criteria used to evaluate the validity, legality, or effectiveness of something.

Tendered Performance

The act of offering or presenting for acceptance a performance of obligations under a contract.