A Personal Cheque with Guaranteed Payment Is Called a

question 14

Multiple Choice

A personal cheque with guaranteed payment is called a

• A)traveler's cheque.
• B)bank draft.
• C)certified cheque.
• D)money order.
• E)cashier's cheque.

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Definitions:

Agent Lacks Authority

A situation where an agent acts outside of their given powers, potentially making their actions unbinding on the principal.

Notify the Third Party

The act of informing someone not directly involved in a transaction or agreement about relevant information or developments.

Disclosed Principal

A principal whose identity is known by the third party at the time a contract is entered into with the agent acting on behalf of the principal.

Signs the Contract

The act of agreeing to a contract's terms and legally binding oneself by signing a document.