Asked by Ambrianna Jones on Jul 15, 2024
Verified
If Nina deposits a check from Rico's bank into her bank that was made payable to her by Rico,any settlement given by Nina's bank is provisional.
Provisional Settlement
A temporary arrangement or agreement reached between parties, pending a final decision or settlement.
- Learn about the effects of financial institution commitments and patron rights concerning the depositing and withdrawing of checks.
Verified Answer
JS
Jason SavageJul 20, 2024
Final Answer :
True
Explanation :
When Nina deposits a check from Rico's bank into her bank, the settlement given by her bank is provisional until it is cleared by Rico's bank.
Learning Objectives
- Learn about the effects of financial institution commitments and patron rights concerning the depositing and withdrawing of checks.