Uniform commercial code post dating checks

12-Aug-2016 13:20

Please initialize your module with a starter category in Website Admin prior to use.If you are not ready to use this module, change it to not be shown on the internet or intranet in Module Configuration.Some people write "post dated" checks, meaning that rather than the current date, they write a future date on the check, often because they hope you will not cash it before then.Legally, banks can honor post dated checks at any time regardless of the date on the item.

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Banking laws in every state are based on the Uniform Commercial Code.

This article was written by Attorney Mary Beth Guard, Editor of Bankers ( Guard was formerly general counsel for the Oklahom Banking Department, general counsel and EVP for the Oklahoma Bankers Association, and EVP of Specialized Services for Thomson Financial Publishing.

She teaches and speaks all over the country on banking law matters.

In fact, in some states, a check payee can claim damages if a bank refuses to pay a post dated check.

Banks are sensitive about dates on checks due to stale dating and post dating laws.

Banking laws in every state are based on the Uniform Commercial Code.This article was written by Attorney Mary Beth Guard, Editor of Bankers ( Guard was formerly general counsel for the Oklahom Banking Department, general counsel and EVP for the Oklahoma Bankers Association, and EVP of Specialized Services for Thomson Financial Publishing. She teaches and speaks all over the country on banking law matters. In fact, in some states, a check payee can claim damages if a bank refuses to pay a post dated check.Banks are sensitive about dates on checks due to stale dating and post dating laws.The customer explained to him that another vendor to whom they had sent a series of post-dated checks had deposited all of the checks at the same time--and that this was what caused the company's cash-flow problem to begin with!