Asked by
thierry beauvais
on Nov 28, 2024
Verified
A paper check must be presented for payment-it cannot be retained at its place of deposit, with only its image or description presented electronically.
Paper Check
A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or to the order of a person named therein.
- Acquire knowledge of the legal duration and requirements governing when checks should be submitted and handled.
- Explore the impact of modern banking practices, including electronic fund transfers, on traditional check processing.
Verified Answer
LP
Learning Objectives
- Acquire knowledge of the legal duration and requirements governing when checks should be submitted and handled.
- Explore the impact of modern banking practices, including electronic fund transfers, on traditional check processing.