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Overdraft

A check that is drawn on an account containing less money than the amount stated on the check.

The term overdraft is also used in reference to the condition that exists when VOUCHERS or purchase orders are drawn in amounts exceeding the amount that has been appropriated or budgeted.

CROSS-REFERENCES

Commercial Paper.

Additional topics

Law Library - American Law and Legal InformationFree Legal Encyclopedia: Ordinary resolution to Patients' Rights - Consent