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Agreeably, some courts don't feel the date on the check makes any difference at all. that it is simply a demand note as of it's issuance.
But even under the alternative, why wouldn't a financial instrument (a check) NOT be legal? It is able to be redeemed at some future time. It basically becomes a promise to pay at some time, not on demand now. Almost all financial instruments have time frames that you need to wait for them to mature, or after which they become worthless.
Of course, the issuer of a check can't say it is payment in full when issued. It is only worth what the one accepting it agrees it is worth (the present value of the promise, like any promise to pay something in the future).. And the check must be covered when it is supposed to be, and if not, then it can be a criminal act.
Section 3-104(2)(b) of the UCC, defines a check as "a draft drawn on a bank and payable on demand." A postdated check, since it is not payable on demand, does not satisfy this demand. Consequently, it has generally been held by most states that the giving of a post-dated check does not constitute a present fraud nor is it within the scope of the bad check laws.
Wiki User
∙ 16y ago
Wiki User
∙ 11y agoIf not done with the intent to defraud, AND the payee accepts them, yes. HOWEVER - there is no guarantee that these postdated checks won't be immediately presented for payment on demand, REGARDLESS of the date on them. THAT could cause you trouble.
Just because they are postdated does not protect you from having insufficient funds on hand if they are presented for payment prior to the date on the check.
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∙ 12y agoAdd your answer:
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What are the laws regarding post dated checks?
In the United States, post-dated checks are generally legal, but banks are not required to honor them. If a post-dated check is deposited before the date written on it, the bank may process it unless the account holder has provided the bank with written notice not to do so. It is recommended to communicate with the payee and your bank to ensure the check is deposited on the intended date.
Is a post dated check illegal in Florida?
I worked in banking for years, and never heard of post dated checks being illegal.
Are postdated checks illegal?
Are post-dated checks issuing allowed by the State law in Greece or it is forbidden? Tks for the answer. Massimo
Is it illegal to postdate a check?
It is not illegal to post date a check. Though it is illegal in some states to request someone to write you a (or many) post dated checks to guarantee payment. The check is not legal tender until the date on the check.
What is the treatment of post dated checks to bank reconciliation?
debit to cash and credit to accounts receivables
Are post dated checks followed by banking prodecures?
I cant share about every bank but i know that is a post dated check is presented at the bank i work at we will not honor it. That said, if a post dated check is dropped in the night deposit or ATM machine we really have no choice but to process it. It is technically illegal to write a post dated check.
What are the consequences for writing bad checks in pa?
If someone writes 4 bad checks that were post dated what charges would they be facing in this situation.
Can a post-dated check be deposited before the post date?
yes it can be deposited since checks can be posted before their maturity date
Is it legal to write a post dated check in Pennsylvania?
Yes, it is legal to write a post-dated check in Pennsylvania. However, banks are not obligated to honor post-dated checks, so there is a risk that the check could be deposited before the date written on it. It is recommended to communicate with the payee about the date the check should be deposited.
What law prevents collection agencies from collecting post dated cheques?
The law preventing collection agencies from collecting post dated checks is the Fair Debt Collection Practices Act. You can learn more about this at the Wikipedia.
Can a post dated check be cashed?
A post dated check can be cashed, but only when enough time has elapsed that the current date is equal to or later than the date of the check. Banks require a current date on checks.
Can you cash a check dated for next day?
Most banks and check cashing services will not cash "post-dated" checks until the date comes due on the date of the check. However, legally, some jurisdictions have laws that allow the negotiation of post-dated checks under the premise that the payee should be able to collect immediately when given a check.
