Which of the following is considered as a distinction of a check?
A)It always draws its money from a financial institute.
B)It is created when credit is extended to a buyer by a seller.
C)It is a two-party instrument.
D)It is an unconditional written promise to pay.

Question

Quizplus · Accepted Answer

A check is a financial instrument that orders a bank to pay a specific amount of money from a person's account to another individual or entity. It always involves a financial institution as the drawee.

Which of the Following Is Considered as a Distinction of a Check