In Which of the Following Types of Checks Does the Bank

question 5

Multiple Choice

In which of the following types of checks does the bank draw on itself to pay a specific person?

• A) Certified.
• B) Agreed.
• C) Acknowledged.
• D) Cashier's.
• E) Promise.

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Definitions:

Promissory Estoppel

A legal doctrine prohibiting someone from revoking a guarantee given to another individual if the latter has sensibly counted on such guarantee to their disadvantage.

Consideration

Something of value promised to another when making a contract.

Unilateral Contract

An agreement in which only one party makes a promise to perform in exchange for an act by the other party.

Acceptance

The act of receiving or agreeing to something, such as a proposal or offer, thus constituting a contract.