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A blank cheque or blank check in the literal sense is a cheque that has no monetary value written in, but is already signed. In the figurative sense, it is used to describe a situation in which an agreement has been made that is open-ended or vague, and therefore subject to abuse, or in which a party is willing to consider any expense in the pursuance of their goals.
A special-purpose acquisition company (SPAC; / s p æ k /), also known as a "blank check company", is a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens.
Blank endorsement of a financial instrument, such as a cheque, is only a signature, not indicating the payee.The effect of this is that it is payable only to the bearer – legally, it transforms an order instrument ("pay to the order of (the payee)") into a bearer instrument ("pay to the bearer").
4. Blank Checks. Keeping blank checks in your wallet is like handing out free passes to your bank account. Only carry what you need, and treat those checks like a wad of cash — because, really ...
Dimitri Kazarinoff started his first ever earnings call as XL Fleet Corp chief executive last month with a u-turn. When the maker of electrified powertrains for vans and pickup trucks agreed a $1 ...
The scammers can then profit from making checks out to themselves or selling the stolen, signed, blank checks. According to the U.S. Financial Crimes Enforcement Network, the number of check fraud ...