Not-Sufficient-Funds Check (nsf check)
Barron's Accounting Dictionary:
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Not-Sufficient-Funds Check (nsf check)
Check not covered by sufficient bank balance. In preparing its bank reconciliation , the depositing entity must deduct the NSF check from the cash book balance.
| Normal Spoilage, Normal Pension Cost, Normal Equations | |
| Note Payable, Note Receivable, Note Receivable Discounted |
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Not-Sufficient-Funds Check (nsf check)
Barron's Law Dictionary:
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Not-Sufficient-Funds Check (nsf check)
A check that the drawer does not have sufficient funds to cover when it is presented for payment, and which for that reason is dishonored by the drawee. In such a case, the presenter will have no power to make the drawee pay the check. White & Summers, Uniform Commercial Code ยงยง17-1 et seq.
(5th ed. 2009). If, however, the drawee does honor the check, it is possible that he may bear the risk of loss in the event funds to cover it are never secured from the drawer. Id. See bad check.
(5th ed. 2009). If, however, the drawee does honor the check, it is possible that he may bear the risk of loss in the event funds to cover it are never secured from the drawer. Id. See bad check.
