Question

An oral stop payment order that is not later confirmed in writing is effective for Multiple...

An oral stop payment order that is not later confirmed in writing is effective for

Multiple Choice

  • fourteen (14) days.

  • twenty-one (21) days.

  • three (3) months.

  • six (6) months.

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Homework Answers

Answer #1

ANSWER: OPTION A - Fourteen (14) days

Stop payment order refer to the process, where in the customer request the bank to stop the payment before it is processed. Stop payment order may be in a written or oral form.

A written stop order is valid for 6 months where as an "Oral stop payment order is valid for a period of 14 days if not later confirmed in writing.

In case of any further queries regarding answer please drop a comment. I will surely resolve it at the earliest possible.

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