Elliot bought a widget from Margaret.He paid the purchase price of $5000 by giving her a cheque that he had drawn on his account at the Bank of Yorkton.Before Margaret had an opportunity to present the cheque for payment,Elliot died.The cheque therefore is automatically considered to be certified.

Question

Quizplus · Accepted Answer

A cheque is not automatically considered to be certified upon the death of the drawer. The executor of Elliot's estate would need to arrange for the funds to be available for the cheque to clear.

Elliot Bought a Widget from Margaret