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Common Law
A legal system characterized by judicial decisions that are recognized as binding, forming a body of law developed through court decisions over time.
Checking Account
A bank account that allows depositors to write checks and make withdrawals, often used for daily financial transactions.
Drawer's Account
Refers to the account from which a check is drawn; the account belongs to the drawer (the person who writes the check).
Payee
A payee is a person or organization to whom money is paid or is to be paid.
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