A Drawer Is Liable to the Holder of a Check

question 5

True/False

A drawer is liable to the holder of a check in a civil suit if the check is dishonored for insufficient funds.

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Definitions:

Exchange Rates

The worth of a single currency when converting it into another.

Euros

The official currency used by the member states of the Eurozone, which is a monetary union of European Union (EU) countries that have adopted the euro as their primary currency.

Dollars

A unit of currency used in the United States and other countries, symbolized by the $ sign and used as a standard monetary unit.

Current Account

A financial statement within the balance of payments summarizing the flow of goods, services, income, and transfer payments into and out of a country.