Asked by Cameron Powers on Oct 01, 2024
Checks and other drafts collected through the banking system usually have all of the following parties EXCEPT:
A) bank.
B) payee.
C) drawer.
D) employee.
Banking System
The network of financial institutions that provide banking services, such as accepting deposits and lending money.
Drawer
In financial transactions, the drawer is the person who writes or issues a cheque or draft, instructing their bank to pay a specified sum of money to the payee or bearer.
Payee
The individual or entity to whom a check, draft, or note is made payable.
- Acquire knowledge about the methodology and judicial impacts of check collection in the financial system.
Learning Objectives
- Acquire knowledge about the methodology and judicial impacts of check collection in the financial system.