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CHECKS

CHECKS . Markéta Maříková. What is a check ?. Check is one of the oldest payment instrument with which can be found even today . Is used in countries such as France, Ireland , Malta or the USA.

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CHECKS

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  1. CHECKS Markéta Maříková

  2. Whatis a check? • Checkisoneoftheoldestpayment instrument withwhichcanbefoundeventoday. • Isused in countries such as France, Ireland, Malta orthe USA. • Checkis a valuablepapercontaininganunconditionalorderfromthedrawerofthecheck to thedrawee (the bank) to payforthecheckamount on thecheck.

  3. Checks in theCzechrepublic • In theCzechrepublic, the use ofchecksregulated Exchange andChequeAct (191/1950 Coll.), whichis in accordancewithGenevaConventions, whichisaninternationallyvalidagreementunderwhichthechecklawregulated in many countries.

  4. To check a documentmustcontaintheprescribedrequirement. • Unconditionalorder to paythecheckamount • Theword „check“ in the text ofthedeed • Nameofthe person who has to pay (draweename) • Place a checkpayment • Date a placeofissue • Signatureofissuer

  5. Privateand bank checks • Thedifferencebetweenthemisthatthe private checks are issued from client from his checkbook. • Bank checkdrawn on theclient bank itself. • Bank checksexposedthe bank to another bank, which has anobligation to pay a checkholder in cash, or clearing theaccount

  6. Checks according to the method transferability Checksmaybeexposed: • Theseries – thisexposed a specific person andcanbetransferred to another person endorsements • Thename – hereisspecificallythenameoftheauthorized person andcan not beendorsed • Theowner – thereis no reference to a specificowneroristhere a specificnamewiththeclause „orowner“.

  7. Traveler´s checks • Thischeckis not check in thetruesenseoftheword. • It´s a specialpayment instrument, whichcanbepurchasedat most bank (andsomeothercompanies). • Traveler´s checkdenominated in a currencyandhave a specificvalues, forexample a checkfor 50 EUR, a checkfor 20 USD, etc.

  8. Traveler´s checks are particularlyadvantageouswhentravelinginsteadof cash, the are more convenientthancreditcards. • Lagislationtravelcheckiscontained in theCommercialCode.

  9. Thank you for watching !

  10. Questions • Include a check between securities? • What law governs the checks? • Itis a traveler´s checksecurity? If not what law governs it?

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