Final answer:
An oral stop payment order is valid if the bank receives it on time and has a reasonable opportunity to act on it. Length of validity and other restrictions can vary by state or bank policy.
Step-by-step explanation:
An oral stop payment order made by a drawer is a request for a bank to not pay out on a check or other payment instrument. According to the Uniform Commercial Code, which is generally adopted by most states in the USA, an oral stop payment order is valid if it is received in a manner that gives the bank a reasonable opportunity to act on the order. This validity is typically limited in duration unless confirmed by a writing.
The correct answer to the question of how long an oral stop payment order remains valid without being renewed in writing is: b. if it is received in time and in such a manner as to afford the bank a reasonable opportunity to act on it. This does not specify a time limit, and it is understood that, for the oral stop payment order to be binding for any specific time frame (like 6 months), it must be confirmed in writing. The time limits of 14 days or one year mentioned in the other options, as well as the restriction on checks over $500, may vary by bank policy or state law but are not universally applied as standard requirements.