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Checks Outline A. Checks Defined 1. Parties 2. Presentment for Payment a. Certification of Checks b. Time of Presentation c.

Liability of drawee bank for forgeries d. Checks operating as Assignment B. Kinds of Checks 1. Memorandum Check 2. Letter of Credit a. Revocable/Irrevocable Letters of Credit b. Back-to-Back Letter of Credit c. Revolving Letter of Credit d. Red-Claused Letter of Credit 3. Crossed Check a. General Crossing b. Special Crossing 4. Stale Check

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