2. Jeopardy By : Esther Michael

3. The Acceptor is the.. Ans. A drawee who has written “accepted” on the document and signed his/her name

4. Check issued against checking account with insufficient funds to cover it Answer. Bad check

5. Ans. Cashier’s check - A check the bank draws on itself

6. ANS Certificate of Deposit A written acknowledgment of the receipt of money and its promise to pay back the money, usually with interest on the due date

7. Ans. Certified Check A personal check that has been accepted by a bank before payment

8. Ans. Check - Draft drawn on a bank and payable on demand

9. Ans. Demand note Payable whenever the payee demands payment

10. Ans Drawee One ordered to pay the money

11. Ans Drawer Orders the money to be paid

12. Electronic Fund Transfer Banking method in which computers and electronic technology are used as a substitute for checks and other paper forms of banking

13. Forged check Check signed by someone else other than drawer and without authority

14. Paid in a series of payments Installment note -

15. Maker – Party agreeing in writing to pay money to another.

16. Money order Draft issued by a post office, bank, express company, or telegraph company for use in paying or transferring funds for the purchaser

17. Note - A written promise by one person to pay money to another person

18. Payee - One who is to receive the money

19. Sight draft - A draft payable as soon as it is presented to drawee for payment

20. Sight draft A draft payable as soon as it is presented to drawee for payment

21. Stale check - A check that is more than six months old

22. Teller’s check Draft drawn by a bank on funds that it has on deposit at another bank

23. Time draft Not payable until the lapse of a particular time period stated on the draft

24. Time note Payable at a future date that is written on the face of the note

25. Trade acceptance Used by a seller of goods to receive payment or to extend credit

26. Traveler’s checks Draft drawn by a well-known financial institution on itself or its agent