When the Drawee of an Unaccepted Draft or Check Pays

question 22

True/False

When the drawee of an unaccepted draft or check pays to a holder the amount due in full, all parties to the instrument are discharged.

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Definitions:

Variance

A statistical measure of the dispersion of a set of data points in a data set.

Deviations

The differences between observed values and the average of those values within a dataset.

Mean

The arithmetic average of a set of numbers, calculated as the sum of all values divided by the count of values.

Sample Variance

A measure of the dispersion or variability of a sample dataset, representing how much the data points differ from the sample mean.