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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EN
Edzisani NematokaJul 15, 2024
Final Answer :
False
Explanation :
A teller's check is a check on which one bank is the drawer and another bank is the drawee.