Explain How Databases May Be Used by the Legal Team

question 7

Essay

Explain how databases may be used by the legal team.

---

Definitions:

Drawee Bank

A bank upon which a check or draft is drawn and is responsible for paying the amount to the individual or entity presenting it for payment.

Agent

A person authorized to act on behalf of another, known as the principal, in business transactions or other matters.

Stop Payment Order

A request made to a financial institution to cancel or halt the processing of a check or payment transaction.

Competitive Equality Banking Act

A U.S. law aimed at promoting competition among banks and equalizing regulatory standards across different types of banking institutions.