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K Terms

Kiting Or Check Kiting – An illegal practice of writing a check against insufficient funds that takes advantage of the float, the time between when a check is written and deposited in one bank and when it is presented for collection at another bank.

Knock-Down – To assign a sale to a bidder at a property auction by a knock or blow of the auctioneer’s hammer, or by any audible or visible announcement signifying to the bidder that he has the winning bid and is entitled to the property.

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