A check is finally paid when the payer bank fails to dishonor the check within certain statutory time periods.

Name: A check is finally paid when the payer bank fails to dishonor the check within certain statutory time periods.
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Question

Quizplus · Accepted Answer

This is known as the "statutory period" and varies depending on the country and jurisdiction. Once this period has expired and the payer bank does not dishonor the check, the check is considered paid.

A Check Is Finally Paid When the Payer Bank Fails