FLOAT

FLOAT float, n. 1. The sum of money represented by outstanding or uncollected checks. ¡° ¡®Float¡¯ refers to the artificial balance created due to delays in processing credits and debits to an account.¡± In re Cannon, 277 F.3d 838, 843 (6th Cir. 2002). 2. The delay between a transaction and the withdrawal of funds to […]

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