Magda purchased some new clothes at a clothing store and gave the salesclerk a cheque for the price of the goods as payment. If the clothing shop owner took Magda's cheque to the bank, and had it certified, Magda's debt to the seller would be extinguished.

Question

Quizplus · Accepted Answer

When a cheque is certified by the bank, it means the bank guarantees the amount on the cheque is available in the payer's account, effectively making the cheque as good as cash. Therefore, once the seller has the certified cheque, the debt is considered paid.

Magda Purchased Some New Clothes at a Clothing Store and Gave