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Jeopardy

Jeopardy . By : Esther Michael . The Acceptor is the . Ans. A drawee who has written “accepted” on the document and signed his/her name. Check issued against checking account with insufficient funds to cover it. Answer. Bad check. Ans. Cashier’s check - .

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Jeopardy

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  1. Jeopardy By : Esther Michael

  2. The Acceptor is the .. Ans. A drawee who has written “accepted” on the document and signed his/her name

  3. Check issued against checking account with insufficient funds to cover it • Answer. Bad check

  4. Ans. Cashier’s check - • A check the bank draws on itself

  5. ANSCertificate of Deposit • A written acknowledgment of the receipt of money and its promise to pay back the money, usually with interest on the due date

  6. Ans.Certified Check • A personal check that has been accepted by a bank before payment

  7. Ans. Check - • Draft drawn on a bank and payable on demand

  8. Ans. Demand note • Payable whenever the payee demands payment

  9. AnsDrawee • One ordered to pay the money

  10. AnsDrawer • Orders the money to be paid

  11. Electronic Fund Transfer • Banking method in which computers and electronic technology are used as a substitute for checks and other paper forms of banking

  12. Forged check • Check signed by someone else other than drawer and without authority

  13. Paid in a series of payments • Installment note -

  14. Maker – • Party agreeing in writing to pay money to another.

  15. Money order • Draft issued by a post office, bank, express company, or telegraph company for use in paying or transferring funds for the purchaser

  16. Note - • A written promise by one person to pay money to another person

  17. Payee - • One who is to receive the money

  18. Sight draft - • A draft payable as soon as it is presented to drawee for payment

  19. Sight draft • A draft payable as soon as it is presented to drawee for payment

  20. Stale check - • A check that is more than six months old

  21. Teller’s check • Draft drawn by a bank on funds that it has on deposit at another bank

  22. Time draft • Not payable until the lapse of a particular time period stated on the draft

  23. Time note • Payable at a future date that is written on the face of the note

  24. Trade acceptance • Used by a seller of goods to receive payment or to extend credit

  25. Traveler’s checks • Draft drawn by a well-known financial institution on itself or its agent

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