Asked by Rebecca Weege on May 17, 2024
Verified
A customer issues a stop-payment order when she has issued a check that has not yet been accepted and she wants the check to be accepted.
Stop-Payment Order
An order by a drawer that instructs the drawee bank not to pay an issued check.
- Comprehend the consequences when an instrument fails to meet the criteria of a negotiable instrument.
- Understand the mechanics of negotiation and the exchange of negotiable instruments.
Verified Answer
ST
Sakshi ThakurMay 19, 2024
Final Answer :
False
Explanation :
A customer can issue a stop-payment order,an order by a drawer that instructs the drawee bank not to pay a check that has been drawn on the customer's account.A customer issues a stop-payment order when she has issued a check that has not yet been accepted and she wants the check not to be accepted.
Learning Objectives
- Comprehend the consequences when an instrument fails to meet the criteria of a negotiable instrument.
- Understand the mechanics of negotiation and the exchange of negotiable instruments.