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The drawer may not issue a stop payment order on the certified check.
3. Give the purpose of:
a. crossing a check
- The purpose of crossing a check is to ensure payment to the payee particularly when it is forwarded by mail or when it is entrusted to an agent. Crossing a check, either generally or specially, does not destroy its negotiability...
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Certifying a check
- The purpose of certifying a check as regards the parties is to enable the holder to use it as money.
III. Problems
1. W, drawer of a check, X, drawee bank, Y, payee, and Z, indorsee and present holder. Z failed to check payment within a reasonable time after issue. X became bankrupt...
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