Which of the following is a distinct characteristic 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

Checks are distinct because they always draw money from a financial institution, unlike other payment methods that might involve direct transfers between individuals or entities.

Which of the Following Is a Distinct Characteristic of a Check