Asked by Michelle Kotey on Jul 07, 2024
Verified
A cashier's check is a check on which the same bank is both drawer and drawee.
Drawer
The maker of a draft.
Drawee
The party, typically a bank or financial institution, upon whom a cheque or draft is drawn and is responsible for paying the specified amount to the holder or bearer of the instrument.
- Distinguish between different types of checks and their specific features.
Verified Answer
SV
shifali vasanJul 14, 2024
Final Answer :
True
Explanation :
A cashier's check is a draft on which the drawer and drawee are the same bank (or branches of the same bank).
Learning Objectives
- Distinguish between different types of checks and their specific features.