Q

QuestionBusiness Law

A. The check is incomplete and requires additional information from the issuer. B. The check has been presented for payment but cannot be processed and must be referred back to the issuer for resolution. C. The check was issued to an incorrect recipient and must be reissued. D. The check has been processed but requires confirmation from the bank before finalizing. Step 3: Determine the Correct Interpretation "Refer to maker" is a specific banking term that indicates there is an issue with the check that prevents it from being processed immediately. This typically means the bank needs additional verification or information from the person who wrote the check. Step 4: Select the Most Accurate Answer Option B most closely matches the standard meaning of "refer to maker". This indicates that the check cannot be processed as-is and must be returned to the issuer for further action or clarification. The check has been presented for payment but cannot be processed and must be referred back to the issuer for resolution. Explanation: When a check is marked "refer to maker", it means there's a problem that prevents the bank from processing the check automatically. This could be due to various reasons such as: - Signature discrepancy - Insufficient funds - Potential fraud concern - Need for additional verification The check is essentially being sent back to the original issuer to address the specific issue preventing its processing.