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Kinn's Chapter 23
| Term | Definition |
|---|---|
| disclaimer | A denial of responsibility; a denial of a legal claim. |
| drawee | A bank or facility on which a check is drawn or written. |
| drawer | The person who writes a check. |
| e-banking | Electronic banking via computer modem or over the Internet. |
| endorser | The person who signs his name on the back of a check for the purpose of transfering title to another person. |
| holder | The person who presents a check for payment. |
| maker | Any individual, corporation, or legal party who signs a check or any type of negotiable instrument. |
| m-banking | Banking through the use of mobile devices, such as cell phones and wirelles Internet services. |
| negotiable | Legaly transferable to another party.. |
| payee | The person named on a draft or check as the recipient of the amount shown. |
| payer | The person who write a check in favor of the payee. |
| power of attorney | A legal statement in which a person authorizes another person to act as his attorney or agent. |
| principal | A capital sum of money due as a debt or used as a fund for which interest is either charged or paid. |
| reconciliation | The process of proving that a bank statement and checkbook balance are in agreement. |
| Uniform Commercial Code (UCC) | A unified set of rules covering many business transactions. It regulates the fields of sales and goods;commercial paper,such as checks;secured transactions in personal property;and particular aspects of banking. |
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