A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will: Options: A . &nbspNote caution and will advice the payee to contact purchaser of the draft B . &nbspNot act on the request C . &nbspStop payment D . &nbspPerforms no action

A draft issued by the bank has been lost by the payee. He sends a letter to the

Question

A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will:

Options:

A . Note caution and will advice the payee to contact purchaser of the draft

B . Not act on the request

C . Stop payment

D . Performs no action

Answer: Option A

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