Banking Codes for Bad check/ conterfeit

[dottucker]

I am not sure about this but I was told if the banks do not let you know of a bad check/counterfeit check in 72 hours or days the bank will have to "eat" the check,Is this true? Can you give me the codes on this rule or direct me to the codes that tells how long they have to returned a bad check / counterfeit check. I was given two conterfeit checks the bank said and I used the money, they didn't let me know they were bad until 14 to 18 days later, and also, have not returned the checks to me. I thought they were supposed to .Is it correct they have so many hours to return the checks or make it good? I need help with this one...

Greetings,

There is a particular posting which might provide some insight in regards to your situation. Go to creditwrench.blogspot.com, then scroll down to August, 2004. It may get you there by simply doing a "find" on the word "checkbook". I did this and got to the article on the second click. I'm pretty sure the posting is dated August 4, 2004 by Bill Bauer. Creditwrench is a most resourceful site for debt and banking issues, but remember, Bill operates "within" the system, using the appropriate statutes. He frowns on redemption and discharging debt with promissory notes. I'm neither endorsing nor criticizing his beliefs, I mention this only so you know where you stand when approaching an issue with the intent to use these techniques.

Sincerely,
truth

[dottucker]

Originally Posted by truth

Greetings,

There is a particular posting which might provide some insight in regards to your situation. Go to creditwrench.blogspot.com, then scroll down to August, 2004. It may get you there by simply doing a "find" on the word "checkbook". I did this and got to the article on the second click. I'm pretty sure the posting is dated August 4, 2004 by Bill Bauer. Creditwrench is a most resourceful site for debt and banking issues, but remember, Bill operates "within" the system, using the appropriate statutes. He frowns on redemption and discharging debt with promissory notes. I'm neither endorsing nor criticizing his beliefs, I mention this only so you know where you stand when approaching an issue with the intent to use these techniques.

Sincerely,
truth

thanks, I went to that web site but it doesn't give any information on the bank codes for returning a bad check, I need help on this please...

[Jerseee]

Try going to the US codes and look under the appropriate section for the banking rules. Hope that helps

[sadie]

You can also do a search for counterfeit checks and see what comes up.

[Camino]

By definition; Checks, Promissory Notes, IOU's, Bonds, Stocks, Mortgages, or whatever, are Bills of Exchange. You are exchanging a promise to pay, or be paid, at a later date, or upon some future circumstance. The only difference between the types is the conditions of payment. Is this not true?

[Jerseee]

Camino,

You are close and not too far off.

All those documents you mentioned are negotiable instruments, including the Bill Of Exchange.

I posted something on this in the UCC forum of this site entitled, "Negotiable Instruments Are..."

Check it out.

Ultimately they are tools in commerce and very close (if not actual) to contracts.