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CHAPTER 41 CHECKS AND ELECTRONIC FUNDS TRANSFERS Outline I. The DrawerDrawee Relationship A. Introduction deposit agreement and Articles 3 and 4 of the Code govern the relationship between the depositor
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Checks and electronic funds are methods of payment that allow individuals and businesses to transfer funds from one account to another electronically.
Any individual or business that receives or makes payments using checks or electronic funds is required to file this information with the appropriate authorities.
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The purpose of checks and electronic funds is to facilitate the transfer of funds between individuals and businesses in a secure and efficient manner.
Information such as the recipient's name, amount of payment, date of transaction, and any other relevant details must be reported on checks and electronic funds.
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