Question

If the payee reports that he/she has received cheques, then the seller should promptly request bank to stop payment.

• A. True
• B. False
• C. Partly true
• D. None of above

Answer 1

The correct option is B False

A stop payment is an order by a customer of a financial institution or to a money order issuer to refuse to pay a check or draft drawn on the customer's account, and to return the draft to the depositor unpaid.

Stop payments are used in cases where the depositor does not want the check to be paid.