[charlesa6]

Originally Posted by bogeyman

I had seen this before- SD and read the artical behind it. If memory serves me correctly - this is fraud because it ( the Draft) is drawn on an account that doesn't exist.

Now I do think you can do a Draft on SIGHT. That is a draft ( check) on a good account ( your checking account) for $XXXX.XX .

I am looking at this right now to clear some CC Debt. I will give them the Draft to present to the bank- BUT only if certain critera are met. Namely- Show that the account wasn't funded by my autograph, Certified copy of the instant account inthe all CAPS name. The Soverigns name, what the bank has at risk- and the bookkeeping entries to back it up, Ect.

They have 90 days from the day of receipt to "Cash" it on sight of the bank- provided thay can come up with the goods I asked for. If they don't the game plan is to reject everything else they send as they were tendered payment and refused. I forget what part of the UCC covered it- but it said- The debt is discharged the moment payment is tendered-even if it is rejected,

We shall see.

UCC 3- 603