CASHIERS CHECK Definition

Bookmark and Share

CASHIERS CHECK; also known as a bank check, official check, tellers check, bank draft or treasurers check; is a check guaranteed by a bank. They are normally treated as cash because most banks clear them instantly.

Learn new Accounting Terms

LETTER OF AUTHORIZATION (LOA) is a form that permits a Donor to provide written instructions to transfer a stock certificate in the Donor's name in full or in part to another party, such as a charitable organization, without using a transfer agent. This form given to the charitable organization with the designated stock certificate and a separate Stock Power is usually executed by the charitable organization's brokerage to expedite the sale and receipt of proceeds from the gift of securities.

OPTION is the formal reservation of the right to buy or sell property / assets at a certain price and / or within a given time in the future, e.g. a contract allowing, but not requiring, the holder to buy (call) or sell (put) a specific security at a specified price during a specified time period or on a specified date. Options may trade on exchanges or over­the-counter.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.