Check
Check or cheque, bill of exchange drawn upon a bank or trust company or broker connected with a clearinghouse. Upon presentation of a check, the bank or other drawee pays cash to the bearer or to a specified person. Payment is made from those funds of the maker or drawer that are in a primary demand deposit account (checking account) with the drawee. The check is intended for prompt presentation, rather than for use as a continuing currency. When the check is presented, the drawee pays the de...
Check
Check or cheque, bill of exchange drawn upon a bank or trust company or broker connected with a clearinghouse. Upon presentation of a check, the bank or other drawee pays cash to the bearer or to a specified person. Payment is made from those funds of the maker or drawer that are in a primary demand deposit account (checking account) with the drawee. The check is intended for prompt presentation, rather than for use as a continuing currency. When the check is presented, the drawee pays the de...
