Asked by Abder-rahmane Cisse on May 10, 2024
Verified
The bank that issues a cashier's check is ________ for the amount of the check as soon as the cashier's check is created.
A) primarily liable
B) secondarily liable
C) partially liable
D) not liable
E) endorsee liable
Cashier's Check
A check issued by a bank, drawn from its own funds and signed by a cashier or teller, guaranteeing payment to the payee.
Primarily Liable
Being the first or main party responsible for fulfilling a financial or legal obligation.
- Gain insight into the fundamental requirements of proper presentment and due notice within the context of negotiable instruments.
Verified Answer
OR
Omayra RiveraMay 11, 2024
Final Answer :
A
Explanation :
The bank that issues a cashier's check is primarily liable for the amount of the check as soon as it is created, meaning the bank guarantees payment of the check from its own funds.
Learning Objectives
- Gain insight into the fundamental requirements of proper presentment and due notice within the context of negotiable instruments.