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Because Banks Rely on Transfer Warranties in the Check-Collection Process

question 36

True/False

Because banks rely on transfer warranties in the check-collection process, these warranties cannot be disclaimed with regard to checks.


Definitions:

Numerical Amount

A quantity or value expressed in numbers.

Written Amount

The value of a document or instrument stated in words.

Five And 62/100

A manner to express the numeric value 5.62, often found in financial documents.

Cash Money

Physical money in the form of banknotes and coins, as opposed to electronic or digital forms of currency.

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