Course Solutions Uncategorized Bank Pays Check Cash Payee Check Returned Drawer Next Bank Statement Bank S Settlement Sai Q34250294

Bank Pays Check Cash Payee Check Returned Drawer Next Bank Statement Bank S Settlement Sai Q34250294

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If a bank pays a check in cash to the payee, and the check isreturned to the drawer with the next bank statement, the bank’ssettlement is said to be A. final. B. honored. C. provisional. D.in due course.

Expert Answer

Ans: A. final

Explanation: Final settlement is a situation in which a payerbank (1) pays a check in cash, (2) settles for a check withouthaving a right to revoke the settlement, or (3) fails to dishonor acheck within certain statutory time periods

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Bank Pays Check Cash Payee Check Returned Drawer Next Bank Statement Bank S Settlement Sai Q34250294

If a bank pays a check in cash to the payee, and the check isreturned to the drawer with the next bank statement, the bank’ssettlement is said to be A. final. B. honored. C. provisional. D.in due course.

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