When the Drawee Bank Receives a Properly Drawn and Payable

question 51

True/False

When the drawee bank receives a properly drawn and payable check, the bank is under a duty to honor the check and charge (debit) the drawer's account the amount of the check if there are sufficient funds in the customer's checking account at the bank.

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Definitions:

Concurring Opinions

Judicial opinions that agree with the overall conclusion of the majority in a court ruling but may differ on reasoning or legal principles.

Binding Legal Principle

A legal rule or doctrine that must be followed by lower courts, or as part of a contract, must be adhered to by the parties involved.

Court's Decision

A court's decision is the final judgment or order issued by a court of law regarding a case, determining the resolution of legal disputes.

Holding

The binding legal principle, or precedent, that is drawn from the court’s decision in a case.