Business and Personal LawChapter 10:
Banking and Negotiable InstrumentsSelf Check AnswersSection 10.1 - A note is a promise to pay money; a draft is an order to a third party to pay money.
- A signature may be any mark placed on the instrument with the intent to be a signature. The signature on a check, however, should match the signature card on file with the bank.
- An indorsement is the act of placing one's signature on an instrument, usually on the back, to transfer it to another.
Section 10.2 - Deposit money in the bank and sign a signature card.
- Compare the check register balance with the bank statement balance to make sure they agree.
- Sign your name in ink the way it appears on the signature card. Never sign a blank check or change a check.
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