certified check

certified check
A check upon which the drawee bank has stamped or written the words "certified," “good,” accepted," or an equivalent expression, with the signature of the certifying officer, the effect of which stamp is equivalent to an acceptance of a bill of exchange by the drawee. 10 Am J2d Banks § 587. The certification of a check by a bank that it is good, is similar to the accepting of a bill, for the banker thereby admits assets, and makes himself liable to pay. By the law merchant such certification is equivalent to acceptance. It implies that the check is drawn upon sufficient funds in the hand of the drawee, that they have been set apart for its satisfaction, and that they shall be so applied whenever the check is presented for payment. It is an undertaking that the check is good then, and shall continue good; and this agreement is as binding on the bank as its notes of circulation, a certificate of deposit payable to the order of the depositor, or any other obligation it can assume. First Nat. Bank v Currie, 147 Mich 72, 110 NW 499.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • certified check — see check Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. certified check n …   Law dictionary

  • certified check — n. a check drawn on a bank and bearing marks from that bank guaranteeing that funds have been reserved for payment. [PJC] …   The Collaborative International Dictionary of English

  • certified check — ☆ certified check n. a check for which a bank has guaranteed payment, certifying there is enough money on deposit to cover the check …   English World dictionary

  • Certified check — A certified check or certified cheque is a form of check for which the bank verifies that sufficient funds exist in the account to cover the check, and so certifies, at the time the check is written. Those funds are then set aside in the bank s… …   Wikipedia

  • Certified Check — A type of check where the issuing bank guarantees the recipient of the check that there is enough cash available in the holder s account to be transfered when the check is used and also that the account holder s signature on the check is genuine …   Investment dictionary

  • certified check — noun a check containing certification that the person who issued the check has sufficient funds on deposit to cover payment • Syn: ↑certified cheque • Hypernyms: ↑check, ↑bank check, ↑cheque * * * (US) (or Brit certified cheque) noun …   Useful english dictionary

  • Certified check — Certify Cer ti*fy, v. t. [imp. & p. p. {Certified}; p. pr. & vb. n. {Certifying}.] [F. certifier, LL. certificare; L. certus certain + facere to make. See {Certain}, and cf. {Certificate}, v. t.] 1. To give cetain information to; to assure; to… …   The Collaborative International Dictionary of English

  • certified check —    A check issued by a bank that certifies that the maker of the check has sufficient funds in his or her account to cover the amount to be paid. The bank will already have set aside the funds, so that the check will remain good even if other… …   Business law dictionary

  • certified check — The check of a depositor drawn on a bank on the face of which the bank has written or stamped the words accepted or certified with the date and signature of a bank official. The check then becomes an obligation of the bank. The certification of a …   Black's law dictionary

  • certified check — The check of a depositor drawn on a bank on the face of which the bank has written or stamped the words accepted or certified with the date and signature of a bank official. The check then becomes an obligation of the bank. The certification of a …   Black's law dictionary

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