Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
creditor-debtor relationship |
created when a customer deposits money into the bank |
|
|
principal-agent relationship |
created when a deposit is a check that the bank must collect for the cusomer |
|
|
article 3 |
sets forth the requirements for negotiable instruments including checks |
|
|
article 4 |
establishes the rules and principles that regulate bank deposit and collection procedures |
|
|
article 4A |
establishes rules regulating the creation and collection of and liability for wire transfers |
|
|
ordinary check |
order by a drawer to a drawee banke to pay a specified sum of money from the drawers checking account to thenamed payee |
|
|
bank check |
payment for which a bank is solely or primarily liable |
|
|
certified check |
pays out of funds set aside from the customers account |
|
|
cashier's check |
check issued by a bank for which the customer has paid the bank the amount of the check and a fee |
|
|
stale checks |
check outstanding for more than 6 months |
|
|
incomplete check |
drawers write checks that omit certain information |
|
|
postdated check |
check that a drawer does not want cashed until sometime in the future |
|
|
stop-payment orders |
order by a drawer of a check to the payer bank not to pay or certify a check |
|
|
overdrafts |
amount of money a drawer owes a bank after it has paid a check despite the drawers account having insufficient funds |
|
|
wrongful dishonor |
there are sufficient funds in a drawers account to pay a properly payable check but the bank does not do so |
|
|
currency transaction report |
requires financial institutions to report cash transactions over 10000 or suspected criminal activity involving 1000 or more |
