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Discuss the length of time that one is allowed to have a verbal stop payment in effect?

  1. Sometimes when you are dissatisfied with services rendered or received faulty goods, you have the option to put a stop payment on the check that you used to pay the company or service provider. The stop payment is a perk of this negotiable instrument. For this week’s discussion board, read the article(Longo, T. (1995). The risks of paying by check. Kiplinger’s Personal Finance Magazine49(7), 94.)and answer the following questions:
  2. Should stop payments be allowed? Why or why not?
  3. Discuss the length of time that one is allowed to have a verbal stop payment in effect? Is it too long, too short, should it be in writing sooner?
  4. The article discussed that even with a written request the check can be cashed after six months unless the stop-payment order is renewed. Share your thoughts about the ability to still have your check cashed after six months.

 

  1. If a firm offers both preferred stock and common stock, which would you rather own? Explain your reasoning

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