D drew a $100 check on ABC Bank payable "to the order of P ." P cashed the check at National Bank. National Bank is an agent of P until the drawee bank pays the check.

Question

Quizplus · Accepted Answer

When P cashes the check at National Bank, National Bank becomes an agent of P until the drawee bank (ABC Bank) pays the check. This is the usual course of action in the process of clearing a check.

D Drew a $100 Check on ABC Bank Payable "To