What is the legal definition of Traveler’s check?
In the legal context, Traveler’s check means In actuality, a cashier’s check of the issuing bank. Upon its issue, the person receiving the check signs it; when he cashes it, he signs it again in the presence of the person who will cash it or give merchandise in exchange for it. Traveler’s checks are particularly valuable as they are not negotiable when lost. The person obtaining traveler’s checks from his bank usually pays a small fee to the issuing bank for the service.
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