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Stop Payment |
Also found in: Dictionary/thesaurus, Legal | 0.01 sec. |
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Stop payment An order given a depository institution not to pay out cash for a check; often used when the check has been stolen or lost. Stop Payment An order to a bank or other financial institution not to make payment on a check drawn on that account. For example, suppose Bob writes a check to Joe. Bob may go to his bank and stop payment, which means that Joe will not be able to collect the funds written to him. Generally speaking, one stops payment on a check when its has been lost or stolen. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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