Thread: That Family
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Unregistered 12:09 PM 09-08-2016
Originally Posted by Denali:

Also: the post dated checks. I've been told that dating the check with the current date means I can cash is anytime regardless of what the memo says. The memo is a suggestion not law, where as the date on the check is law and no bank will cash a check before the date that's writen on the check.

My understanding of my states bad check law is I'm not protected legally if I take a post dated check. If a take a check with the current date on it, and hold it, and it's bad, than I can sue and press charges for 3x the amount of the check (not to exceed $1000) plus late payment fees that are stated in my contract. That's my understanding anyway...
There are many misconceptions about postdated checks. Generally, checks are considered legal tender when they are signed, regardless of the date written on them. You can attempt to cash a post dated check as soon as you receive it and it is up to the bank's discretion whether or not to cash it. Many will.

The only case when the date on a post-dated check is legally binding is if the check writer has informed in advance BOTH the recipient and the check writer's bank that they do not want the check to be cashed before the written date. If this notice is in formal written format, it is binding for 6 months. If it is verbal, it is binding for 14 days.
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