chapter 23

  1. disclaimer
    a denial of responsibility ; a denial of a legal claim
  2. drawee
    a bank or facility on which a check is drawn or written
  3. drawer
    the person who writes a check
  4. e-banking
    electronic banking via computer modem or over the internet
  5. endorser
     the person who signs his or her name on the bak of a check for the purpose of transferring title to another perosn
  6. holder
    the person who presents a check for payment
  7. maker
    any individual corporation or legal party who signs a check or any type of negotiable instrument
  8. m-banking
    banking through the use of mobile devices such as cell phones and wireless internet services
  9. negotiable
    legally transferable to another party
  10. payee
    the person named on a draft or check as the recipient of the amount shown
  11. payer
    the person who writes a check in favor of the payee
  12. power of attorney
     a legal statement in which a person authorizes another person to act as his or her attorney or agent attorney in fact
  13. principal
    a capital sum of money due as a debt or used as a fund for which interest is either charged or paid
  14. reconciliation
    the process of proving that a bank statement and checkbook balance are in agreement
  15. uniform commercial code (UCC)
    a unified set of rules covering many business transactions , it has been adopted in all 50 states
Card Set
chapter 23
chapter 23