Thomas, the Holder of a Check, Presents It to the Drawee

question 46

True/False

Thomas, the holder of a check, presents it to the drawee bank for payment. If Thomas indorses the check, Thomas warrants that the account of the drawer in the drawee bank contains funds sufficient to cover the check.

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Definitions:

Standards of Conduct

A set of guidelines or principles designed to govern behaviors and actions in a professional or organizational environment.

Impropriety

The quality of being inappropriate, unethical, or not conforming to the expected standards of conduct.

Contract Agreement

A legally binding document that describes the terms of a deal or partnership between two or more parties.

Whole Shipment

Refers to the transportation or delivery of an entire cargo or batch of goods at one time, without dividing it into smaller consignments.