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kiting kiteIn kite ABCD, AB = AD and CB = CD.kite K0079900 (kīt)n.1. a. A light framework covered with cloth, plastic, or paper, designed to be flown in the wind at the end of a long string or multiple lines, especially for recreation.b. A parafoil flown in a similar manner for recreation.c. A power kite.2. A quadrilateral with two distinct pairs of congruent, adjacent sides. Also called deltoid.3. Any of the light sails of a ship that are used only in a light wind.4. Any of various graceful predatory birds of the family Accipitridae, having long pointed wings and often a forked tail.5. An instance of check kiting.v. kit·ed, kit·ing, kites v.intr.1. To fly like a kite; soar or glide.2. To get money or credit with a kite.v.tr. To use (a check) in furtherance of a check kiting scheme. [Middle English, bird of prey, from Old English cȳta.]kiting (ˈkaɪtɪŋ) n (Commerce) another term for kite flyingEncyclopediaSeekiteKiting Related to Kiting: Check kitingKitingThe unlawful practice of drawing checks against a bank account containing insufficient funds to cover them, with the expectation that the necessary funds will be deposited before such checks are presented for payment. Kiting
KitingUsed in banking to refer to the practice of depositing and drawing checks at two or more banks and taking advantage of the time it takes for the second bank to collect funds from the first bank. Also refers to illegally increasing the face value of a check by changing the numbers on the check. In the context of securities, refers to the manipulation and inflation of stock prices.Kiting1. The illegal practice of deliberately misrepresenting the value of a security or transaction in order to extract more funds from a counterparty.
2. The illegal practice of writing a bad check on an account at one bank, depositing it at a second bank, and withdrawing cash. Check holds have made kiting more difficult than it once was.
3. The illegal practice of defacing a check by increasing the amount of money written on it. One may take advantage of bad handwriting, for example, by changing "ten" to "twenty" on the check. |