check

verb

To control or restrain; to hold within bounds. To verify or audit, as to examine the books and records of another or a business for accuracy and proper accounting practices. Particularly used with reference to the control or supervision of one department, bureau, office, or person over another

noun

A draft drawn upon a bank and payable on demand, signed by the maker or drawer, containing an unconditional promise to pay a sum certain in money to the order of the payee. State v. Perrigoue, 81 Wash.2d 640, 503 P.2d 1063, 1066. U.C.C. No. 3-104(2)(b).

The Federal Reserve Board defines a check as "a draft or order upon a bank or banking house purporting to be drawn upon a deposit of funds for the payment at all events of a certain sum of money to a certain person therein named or to him or his order or to bearer and payable instantly on demand." It must contain the phrase "pay to the order of."

See also bad check

- bogus check

- cancelled check

- cashier's check

- depository transfer check (DTC)

- draft

- raised check

- registered check

- stale check

- traveler's check.

@ blank check

Check which is signed by drawer but left blank as to payee and/or amount

@ cashier's check

A bank's own check drawn on itself and signed by the cashier or other authorized official. It is a direct obligation of the bank. One issued by an authorized officer of a bank directed to another person, evidencing that the payee is authorized to demand and receive upon presentation from the bank the amount of money represented by the check. A form of a check by which the bank lends its credit to the purchaser of the check, the purpose being to make it available for immediate use in banking circles. A bill of exchange drawn by a bank upon itself, and accepted by the act of issuance. In its legal effect, it is the same as a certificate of deposit, certified check or draft. An acknowledgment of a debt drawn by bank upon itself.

See also certified check

+

A check drawn by the bank upon itself and issued by an authorized officer of a bank, directed to another person evidencing fact that payee is authorized to demand and receive from the bank, upon presentation, the amount of money represented by the check. National Newark and Essex Bank v. Giordano, 111 NJ.Super. 347, 268 A.2d 327, 328.

See also check

@ memorandum check

A check given by a borrower to a lender, for the amount of a short loan, with the understanding that it is not to be presented at the bank, but will be redeemed by the maker himself when the loan falls due. This understanding is evidenced by writing the word "Mem." on the check.

@ personal check

An individual's own check drawn on his own account.

@ post-dated check

A check which bears a date after the date of its issue. Its negotiability is not affected by being postdated and it is payable on its stated date. U.C.C. No. 3-114.

+ post-dated check

A check issued before the stated date of the instrument. One delivered prior to its date, generally payable at sight or on presentation on or after day of its date.

See post-date

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