Asked by Nishallinee Shanmugam on Jul 15, 2024
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A teller's check is a check on which a bank is both the drawer and the drawee.
Teller's Check
A check drawn by a bank on its own funds and signed by a teller, representing a guarantee of payment, often used in transactions requiring secure funds.
Drawer
The party in a transaction who writes a check or draft, instructing the bank to pay a specified amount of money from the drawer's account.
Drawee
A drawee is the party directed by the depositor to pay a certain amount to the person presenting the check or draft.
- Master the legal association and obligations linking a depositor to a bank, inclusive of the relevant laws.
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Learning Objectives
- Master the legal association and obligations linking a depositor to a bank, inclusive of the relevant laws.
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