General Studies · Negotiable Instruments
Unlike a standard cheque, a Bank Draft cannot be generally returned unpaid (dishonored) for which of the following reasons?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It can be drawn even if the account has zero balance
- 2The amount is already prepaid by the purchaser to the bank✓
- 3The drawer can issue a stop-payment order at any time
- 4It is exempt from the Negotiable Instruments Act laws
Correct answer
The amount is already prepaid by the purchaser to the bank
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