At the end of the check line where you write the dollar and/or cent amount, the word "dollars" may be/ is typed.
Why?
Is it because that is our currency in America is "dollars"?
2007-10-17 13:02:44 · 2 answers · asked by remarie84 3 in Business & Finance ➔ Other - Business & Finance
Yes. For example, if you're writing a check for $15.32, it is actually 15 and 32/100ths dollars.
2007-10-17 13:08:10 · answer #1 · answered by Tapioca 4 · 0⤊ 0⤋
That's because it is part of a legal requirement for a check to be a check.
You need to have the payee, account identifier, amount AND THE UNIT, date, and the statement of negotiability.
Believe it or not, the box on the right hand side where you write the amount in number is just a memo. It does not count.
The amount that is spelled out counts. The word "dollars" is there so that if someone doesn't write "dollars", the unit is clear. If it is not there, it could be cents or dollars. It could even be some foreign unit and it would still be valid.
2007-10-17 20:10:01 · answer #2 · answered by tkquestion 7 · 0⤊ 0⤋