Negotiable Instruments Article Review
ARTICLE REVIEW
UNIVERSITY OF PHOENIX
DATE: November 26, 2007
TO: Garth Ferrell
FROM: ***** *****
RE: Client Alert: Check 21 – A Catalyst For Innovation
Anthony, B (2004). Client Alert: Check 21 – A Catalyst For Innovation. Retrieved on November 25, 2007 from http://www.lordbissell.com/Newsstand/Check21-Anthony.pdf
ARTICLE SYNOPSIS
The article reviewed in this paper describes the Check Clearing for the 21st Century Act, or Check 21, which came into effect in October of 2004. This Act allows the use of a substitute check as a negotiable instrument, rather than a paper check. The substitute check is a legal tender and the equivalent of a paper check as long as it fulfills two requirements. The first is that the substitute check must be an accurate representation of both the front and the back of the paper check. It must also include a legend stating that this substitute check may be used in the same way as the original check and that the substitute check......
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Approximate Word Count: 374
Approximate Pages: 2 (250 words per double-spaced page)
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