Examlex

Solved

Which of the Following Statements Is True

question 17

Multiple Choice

Which of the following statements is true?


Definitions:

Teller's Check

A bank check that is drawn on the bank's own funds and signed by a cashier.

Drawer

The entity or person who writes or creates a check, thereby instructing the bank to pay the stated amount to the party named on the check.

Drawee

The party upon whom a check or draft is drawn, typically a bank, that is directed to pay a certain amount of money.

Stop-payment Order

An instruction given to a bank to stop a check or payment that hasn't been completed.

Related Questions