| A | B |
|---|
| negotiable instrument | a written order or promse to pay a sum of money, either to a specified party or to the person who holds it |
| endorsing | signing your name on the back of the check |
| bearer instrument | payable to the bearer |
| check number | number of the check being written |
| date | date of the check written |
| payee | reciever of the funds |
| amount | amount of the check |
| signature | valid signature of the maker of the ckeck |
| memo | optional entry to note the checks purpose |
| identification numbers | check number, bank number, and account number |
| drawee | bank that maintains the account and holds the funds of the person or business that is writing the check |
| drawer | person who is writing the check |
| draft | an order signed by one party that is addressed to another party |
| bill of exchange | a negotiable and unconditional written order, such as a check, draft, or trade agreement, addressed by one party to another |
| promissory note | a written promise to pay at a fixed or determinable future time a sum of money to a specified individual |
| elements of negotiability | check conditions |
| holder in due course | a written, signed unconditional promise or order to pay a fixed amount on demand or at a defined time to "" |
| blank endorsement | signature of the holder |
| restrictive endorsement | limits the use of the instrument to a means specified by the endorser |
| full endorsement | transfers the check to another party |
| qualified endorsement | an attempt to limit the liability of the endorser without limiting an instruments further negotiability |
| transit number | a 9-digit number that identifies the bank that holds the checking account and is responsible for payment |
| returned check | a check written on an account that doesnt have adequate funds |
| charge cards | a consumer purchases but must pay the account in full at the end of the month |
| credit cards | allow consumers to pay all or part of their bills each month and finance the unpaid balance |
| cash cards | commonly used at an ATM |
| debit cards | transfer money from a persons designated account to the account of the retailer |
| radio frequency identification | uses a transponder to convey identifying information including the account holders account or balance information and the fees being assesed to the account by the business for products or services |
