Asked by Jaynese Jones on Jun 09, 2024
Verified
A check is a draft payable on demand.
Check
A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
Draft Payable
A document instructing the payment of a specified amount of money, typically used in international trade.
- Ascertain the characteristics and categories of negotiable instruments.
Verified Answer
TH
tionta hanleyJun 12, 2024
Final Answer :
True
Explanation :
A check is a written order instructing a bank or credit union to pay a specific amount of money on demand to the person or business named on the check. It is essentially a type of draft that is payable on demand.
Learning Objectives
- Ascertain the characteristics and categories of negotiable instruments.