Check

An order for money that is on deposit with a bank, banker, trust company or other monetary institution. A check differs from a bill of exchange in that it is always payable on demand and always purports to be drawn against a deposit of funds. If the amount stated in words and the amount stated in figures in a check do not agree the words govern. If a check pa es out of the maker’s hands without having been dated the holder may write in the space provided for the date a date which must be the date upon which the check was received by him but no other date. A check dated ahead is usually regarded as a bill of exchange rather than a check. When a check is paid before the date written on it the money so paid can be recovered. A bank is not liable to the holder of a check unle and until it accepts or certifies the check. A bank is not bound to make partial payment on a check if the drawer has not sufficient funds to his credit to make payment in full. If a depositor draws several checks amounting in the aggregate to more than he has standing to his credit the bank pays the checks in the order of presentation without regard to dates ~ or numbers until the depositor’s credit is exhausted. The bank may refuse to honor checks subsequently presented. 106