What is postdating a check mean
What is postdating a check mean - adult dating in hartford tennessee
Any check that's properly made out and has your signature is treated as legal tender, and the bank is free to hand over the money to the holder of the check.There is, however, one situation in which a bank can be held liable if they cash a post-dated check too soon.
Generally, a bank may cash your check when they receive it, even if your check is paid before the date you wrote on the check.
It is unlawful for any person, firm, or corporation to draw, make, utter, issue, or deliver to another any check, draft, or other written order on any bank or depository, or to use a debit card, for the payment of money or its equivalent, knowing at the time of the drawing, making, uttering, issuing, or delivering such check or draft, or at the time of using such debit card, that the maker or drawer thereof has not sufficient funds on deposit in or credit with such bank or depository with which to pay the same on presentation; except that this section does not apply to any check when the payee or holder knows or has been expressly notified prior to the drawing or uttering of the check, or has reason to believe, that the drawer did not have on deposit or to the drawer’s credit with the drawee sufficient funds to ensure payment as aforesaid, nor does this section apply to any postdated check. It is unlawful for any person, firm, or corporation to obtain any services, goods, wares, or other things of value by means of a check, draft, or other written order upon any bank, person, firm, or corporation, knowing at the time of the making, drawing, uttering, issuing, or delivering of such check or draft that the maker thereof has not sufficient funds on deposit in or credit with such bank or depository with which to pay the same upon presentation.
A violation of the provisions of this subsection constitutes a misdemeanor of the first degree, punishable as provided in s. 775.083, unless the check, draft, debit card order, or other written order drawn, made, uttered, issued, or delivered is in the amount of 0, or its equivalent, or more and the payee or a subsequent holder thereof receives something of value therefor. However, no crime may be charged in respect to the giving of any such check or draft or other written order when the payee knows, has been expressly notified, or has reason to believe that the drawer did not have on deposit or to the drawer’s credit with the drawee sufficient funds to ensure payment thereof. As used in this section, the term “debit card” means a card, code, or other device, other than a check, draft, or similar paper instrument, by the use of which a person may order, instruct, or authorize a financial institution to debit a demand deposit, savings deposit, or other asset account.
This means that a tenant may legally postdate a check to you and that you may even be able to cash it when you receive it, but if the bank has been notified of the postdating you will have to wait until the date listed on the check instrument before you may receive the funds.
While it may be a crime for a tenant to write a check when there are insufficient funds in his account to cover the check, California's worthless check laws may not cover a landlord if a postdated check was accepted.
That’s when you notify the bank ahead of time that you've written a post-dated check and they shouldn't cash it until the date you've indicated. You'll need to give the bank a good description of the check, including the check number, the payee and the amount.
They should watch for the check to arrive and only cash it if the date you've indicated has passed.
Unless you are 100 percent sure that the tenant can be trusted and that there will be funds to cover the check when it is ready to be cashed, it may not be a good idea to accept a postdated check.
The Uniform Commercial Code states that a bank may honor a postdated check provided the check is otherwise safe to cash and the account owner has not provided the bank with "reasonable notice of the postdating.
If you write a check with a date in the future written on it, so that the check cannot be cashed until the date on the check, then you have written a postdated check.
Unlike a normal check, a postdated check is not necessarily payable on demand.
When a prosecution is initiated under this section before any committing trial court judge, the party applying for the warrant shall be held liable for costs accruing in the event the case is dismissed for want of prosecution.