A Check Drawn on a Bank Is an Order to Pay

question 41

Multiple Choice

A check drawn on a bank is an order to pay a sum of money and an authorization to charge the amount to the drawer's account. The drawer may countermand this order by which of the following?

• A) A canceled check.
• B) A stop payment order.
• C) A banker's acceptance.
• D) A time draft.

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Definitions:

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