If a Drawer Files a Stop Payment Order on a Check

question 46

True/False

If a drawer files a stop payment order on a check, he is automatically relieved of liability for the obligation.

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Definitions:

Perfect Tender Rule

A principle in commercial law that requires the seller to deliver goods to the buyer that exactly match the terms and quality specifications of the contract.

Sale Of Goods

The act of transferring ownership of tangible personal property from a seller to a buyer for a price.

Defective Goods

Items that are flawed or lack the quality promised, making them unfit for their intended use.

Place Of Shipment

The location where goods are loaded and dispatched to the buyer according to the terms of a sales contract.