Aurora needs to have her car's radiator replaced. She takes it to Jose, who makes the necessary repair. Aurora writes him a check to pay for the work. In this transaction, presentment occurs when: a. Aurora writes the check. b. Jose presents the check to Aurora's bank. c. Aurora's bank presents her with the canceled check. d. Aurora presents the check to Jose.

Question

Social Studies

Asher Le

4 June, 13:29

Aurora needs to have her car's radiator replaced. She takes it to Jose, who makes the necessary repair. Aurora writes him a check to pay for the work. In this transaction, presentment occurs when: a. Aurora writes the check. b. Jose presents the check to Aurora's bank. c. Aurora's bank presents her with the canceled check. d. Aurora presents the check to Jose.

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Abigayle Rogers · Answer 1

In this transaction, presentment occurs when: b. Jose presents the check to Aurora's bank.

Explanation:

Presentment is generally known as the demand for the payment or acceptance of a negotiable instrument, such as a check. In simple, presentment refers to the presentation of transaction data to a bank by a trader/dealer, so the bank may process the transaction.

In the above statement, Aurora writes a check to pay for the work done by Jose. Here the presentment occurs when the payee, Jose, presents the check to the bank because the bank is liable for payment.