Asked by
Jessica Miller
on Nov 23, 2024
Verified
Magda purchased some new clothes at a clothing store and gave the salesclerk a cheque for the price of the goods as payment. If the clothing shop owner took Magda's cheque to the bank, and had it certified, Magda's debt to the seller would be extinguished.
Certified Cheque
A bank-endorsed cheque that confirms the drawer has sufficient funds in their account to cover the cheque's amount.
- Gain insight into the repercussions of using certified cheques on the rapport between the drawer and the payee.
Verified Answer
AC
Learning Objectives
- Gain insight into the repercussions of using certified cheques on the rapport between the drawer and the payee.