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NALS Chapter 5_75499
Vocabulary
| Term | Definition |
|---|---|
| Bank draft | A check issued by a bank upon its funds in another bank usually located in another city |
| Cashiers check | A check drawn by a bank on its own funds |
| certified Check | A check issued by a bank that reduces the drawer's account by the amount of the check. the bank holds the funds for payment of the check and becomes responsible for its payments |
| Drawee | Person to whom a check is written |
| Drawer | Person by whom a check is written and upon whose funds the check is drawn |
| employer Identification number | A number assigned to an employer by the internal revenue service that must be used on all reports submitted to the IRS |
| Matter | A term that refers to an individual piece of legal work for a given client; clients may have only one matter or many. matter desginated allows different project to be billed seperatly |
| Payee | Person to whom a promissoriy note, bank draft or checked is issued |
| Principal | Amount a borrower promises to pay that is written on the face of a note. |
| Pro bono | Describes legal work or services performed free of charged |
| Retainer | An advanced payment made to cover anticipated work or costs |
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Labria
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