delete - 4/28/2008 Notes In the common law contract the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
4/28/2008 Notes In the common law contract the price is left out, but in the uniform commercial code the price is included. Need to be in writing!! Common law – Contract UCC – Sale of Goods Between these two laws the UCC wins CH27 Checks – three party instrument Maker (drawer) – Payer (drawee) – Cashiers check – money order from the bank. More authentic Drawing check from the account to make the money payable Guaranteed funds, so the fund has to be available for the bank to issue the cashiers check Traveler’s check – instrument that is payable on demand, drawn on or payable at a bank and designated as a traveler’s check Certified Check – check that has been drawn by a depositor and then accepted by the bank on which is drawn Bank customer relationships 1. Creditor and debtor relationship – if the customer borrows the money the bank become the creditor and the customer becomes the debtor 2. Agency Relationship – Median to process the check sending and receiving (bank
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

delete - 4/28/2008 Notes In the common law contract the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online