Standard 6 Vocabulary

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Across
  1. 2. One ordered to pay the money
  2. 3. A party who sells on credit or lends money
  3. 4. Check issued against checking account with insufficient funds to cover it
  4. 5. Check signed by someone else other than drawer and without authority
  5. 6. Finance charges figured by adding balances for each day in billing period and then divide by the number of days in the billing period.
  6. 12. Property that is the subject of a secured loan
  7. 13. Card or other device used to obtain goods, money, or services on credit
  8. 14. A party who buys on credit or borrows money
  9. 15. Draft drawn on a bank and payable on demand
  10. 16. A written notice of existence of a security interest in identified property
  11. 17. A check the bank draws on itself
  12. 18. Helps protect a loan when a borrower's credit rating is poor or has not been established
Down
  1. 1. A personal check that has been accepted by a bank before payment
  2. 2. Payable whenever the payee demands payment
  3. 6. Finance charges are added after subtracting payments made during billing period
  4. 7. Banking method in which computers and electronic technology are used as a substitute for checks and other paper forms of banking
  5. 8. Lien for unpaid services assessed against personal property that has been improved
  6. 9. A drawee who has written "accepted" on the document and signed his or her name
  7. 10. to pay back the money, usually with interest on the due date
  8. 11. Orders the money to be paid