A Check Involves 3 Parties: the Maker Who Signs the Check

question 72

True/False

A check involves 3 parties: the maker who signs the check, the payee who is the recipient, and the bank on which the check is drawn.

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Definitions:

Union Shop

All employees must join the union, usually within 30 days after they are hired.

Closed Shop

An employer may hire only union members; outlawed under the Taft-Hartley Act.

Craft Union

A labor organization representing workers who practice the same craft or trade, aiming to negotiate better wages, conditions, and rights for its members.

Arbitrator

A neutral third party who resolves disputes between two or more parties outside of the court system, usually in a binding decision.