A bit confusing but what I mean by this is say, a guy writes a 1000 dollar check (made out to cash)to buy a quad. The guy receiving the check, instead of cashing it out, uses the original check to then go buy his own quad and so on.
In: Economics
cash is currency issued by a government and backed by them. a check is a private iou and promises to give cash when presented to the bank (if the writer has sufficient funds). theoretically, it could work like you describe, but irl someone along the way would probably want cash, if they don’t trust the guy who wrote the check.
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