Alabama Code 7-4-104. Definitions and index of definitions
Terms Used In Alabama Code 7-4-104
- Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit;
(2) "Afternoon" means the period of a day between noon and midnight; (3) "Banking day" means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions; (4) "Clearing house" means an association of banks or other payors regularly clearing items; (5) "Customer" means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank; (6) "Documentary draft" means a draft to be presented for acceptance or payment if specified documents, certificated securities (Section 7-8-102) or instructions for uncertificated securities (Section 7-8-308), or other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft; (7) "Draft" means a draft as defined in Section 7-3-104 or an item, other than an instrument, that is an order; (8) "Drawee" means a person ordered in a draft to make payment; (9) "Item" means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Alabama Code 7-4-104 - following: means next after. See Alabama Code 1-1-1
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
“Agreement for electronic presentment.” Section 7-4-110.
“Bank.” Section 7-4-105.
“Collecting bank.” Section 7-4-105.
“Depositary bank.” Section 7-4-105.
“Intermediary bank.” Section 7-4-105.
“Payor bank.” Section 7-4-105.
“Presenting bank.” Section 7-4-105.
“Presentment notice.” Section 7-4-110.
“Acceptance.” Section 7-3-409.
“Alteration.” Section 7-3-407.
“Cashier’s check.” Section 7-3-104.
“Certificate of deposit.” Section 7-3-104.
“Certified check.” Section 7-3-409.
” Check. ” Section 7-3-104.
“Good faith.” Section 7-3-103.
“Holder in due course.” Section 7-3-302.
“Instrument.” Section 7-3-104.
“Notice of dishonor.” Section 7-3-503.
” Order. ” Section 7-3-103.
“Ordinary care.” Section 7-3-103.
“Person entitled to enforce.” Section 7-3-301.
“Presentment.” Section 7-3-501.
“Promise.” Section 7-3-103.
” Prove. ” Section 7-3-103.
“Teller’s check.” Section 7-3-104.
“Unauthorized signature.” Section 7-3-403.