Although a drawer has stopped payment on a check, the drawer still may be held liable on the check unless the drawer has a defense that will defeat the holder in a lawsuit.
Correct Answer:
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Q1: If a check has not been certified,
Q2: A bank is required to pay a
Q4: A written stop payment order is effective
Q5: A check is drawn on the assumption
Q6: If a bank improperly refuses to make
Q6: A tender occurs when the holder of
Q8: A bank's liability to the drawer of
Q14: To be effective, checks must be executed
Q17: In the case of either a check
Q19: The standard form of check does not
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