stopping payment

stopping payment
The closing of a bank upon its insolvency. The act of the drawer of a check in revoking or cancelling the check, before it has been certified, accepted, or paid by the bank upon which it is drawn, by giving an unequivocal direction or instruction to the bank that the check is not to be paid. 10 Am J2d Banks § 641. See stop payment order.

Ballentine's law dictionary. . 1998.

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