IDENTIFICATIONS -Rene Descartes

question 64

Short Answer

IDENTIFICATIONS
-Rene Descartes

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Definitions:

Stale Check

A check that is presented for payment after a certain period (typically six months) from its issue date, leading to its potential refusal by the bank.

Settlement

An agreement reached between parties in a dispute to amicably resolve their differences, often involving a compromise and the cessation of further legal action.

Provisional

Not final.

Substitute Check

An electronic or digital version of an original paper check, used in the banking industry to streamline check processing.