Which of the following is implied when a bank certifies a check?

A) The bank agrees to accept the check when it is presented for payment.
B) The bank cashes the check only if the holder himself presents it for payment.
C) The bank withholds payment on the check until the drawer authorizes payment.
D) The bank holds the check as guarantee for repayment of a loan taken by a customer.

A

Business

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Answer the following statement(s) true (T) or false (F)

1. Everything else being equal, the longer the period of time, the lower the present value. 2. The present value interest factor for i percent and n periods is the inverse of the future value interest factor for k percent and n periods. 3. Given a discount rate of zero percent and n periods of time, the present-value interest factor and future-value interest factor are equal. 4. Annuity due is an amount that occurs at the beginning of each period. 5. Future Value Interest Factor Annuity (FVIFA) is the future value of $1 ordinary annuity for n period compounded at k percent.

Business

The notice of value sets the upper limit of value for

a. the purchase price. b. the loan. c. the guarantee. d. none of these.

Business