Signed orders {bill-of-exchange}| {draft from bank} to banks or other parties can agree to pay bearer the amount, on demand or at a fixed time.
types
Bills of exchange {personal check} can be signed orders to banks to pay bearers immediately from checking accounts. Checks {certified check} can carry guarantee of validity of check writer's signature, as determined by bank. Bank immediately withdraws the money from his or her account and assumes liability for check. Checks {cashier's check} can be on bank's account, purchased from bank by individual to provide acceptable payment to a creditor who will not accept personal checks.
Practical Affairs>Financial Affairs>Banking>Checking
7-Financial Affairs-Banking-Checking
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Date Modified: 2022.0224