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If a company deposits money into your bank account by mistake are you liable to pay these monies back to them?
Wiki User
∙ 11y ago
Yes you are ! If you're not entitled to the money - that is technically theft, even if it wasn't your doing. However, you should give the company a reasonable time to reclaim the money. The best option would be to send the company a cheque or money order for the amount. Send it by recorded delivery, with a letter stating if they don't recover the money within a set time (say 2 years), you will consider it a gift !
Wiki User
∙ 11y ago
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What are examples of liability account?
A liability account is anything the company owes. Accounts Payable, Notes Payable, these are two examples of a liability account. Unearned Revenue is another example of a liability account. Unearned revenue is revenue a company has received but has not yet fulfilled their obligation to the customer. Because the company is now liable for either providing the product (or service) to the customer or refunding the money paid by said customer, it is a liability account until all obligations are fulfilled.
Are joint account holders liable for the acts of the co-account holders?
Liability is limited to the account and the cash in it. if there is any forgery or crime committed by the co-account holder, the other person cannot be held liable (Provided you have proof that you did not indulge in criminal activity) If the co-holder has lots of debt then the debtor can confiscate the cash in the joint account.
Is the secondary account holder liable for the primary if they are overdrawn?
Yes. Bank is liable to pay the joint account holders jointly without any distinction ( subject to the operation instruction). Thus the liability to the bank also is joint.
What if the signature on a joint credit card account was forged?
If you can show it was forged and you did not use the account then you are probably not liable. You should discuss this with a local attorney.
You are an authorized user of a business card account are you liable as an authorized user?
No, authorized users are not responsible for an account. Only the actual account holder is responsible for all debt that is incurred.
Is the bank liable for money taken from a checking account electronically?
If the incident happens because of the carelessness of the customer in protecting his logon id and password the bank is not responsible. If the incident happens due to some mistake in the bank system then it is liable.
Can ABC Company deposit a check into their account if the check is made payable to CBS Company?
Yes if the bank accepts it, but ABC company is liable for the amount if the check isn't paid.
Can you do direct deposit if your name is not on the account?
No, you cannot have direct deposits into an account that you are not listed on. However, many account holders can add Power of Attorneys (POA) on their bank accounts, which is basically an authorized user. This person would have the same rights as the account holder, but the account holder is liable for the account. So if the account holder were willing to add you onto the account as a Power of Attorney, then you would have the ability to have direct deposits into the account, as well as full access to the account. The account holder has to go to the bank in-person to do this and must provide identification and sign off on this.
What is the meaning of fallible?
Liable to fail, mistake, or err; liable to deceive or to be deceived; as, all men are fallible; our opinions and hopes are fallible.
Can the previous property owner be held liable for a mistake made by the title agency?
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What if the company insuring you makes a mistake on the premium they are making you pay can they make you liable for the back premiums when they had us covered for the wrong amount?
Try calling or writing them a letter and explain the situation.
Can a hospital send a bill to collections before the insurance company the hospital is a preferred provider for settles with the hospital?
Yes the hospital may send you to collections before your insurance settles on an account. In most states the hospital is not actually required to even file your insurance, however, they do as a courtesy. Even when the hospital does file your insurance if they make a mistake and your claim is denied based on this mistake they can not be held liable and are not required to fix the problem. It is now the patients responsibilty to get the itemized statements and get them to the insurance company.
What insurance company is liable if a pedestrain is hit by a car?
The driver who hit the pedestrian is liable, not their insurance company. The drivers insurance company will normally be responsible for payment of valid claims up to the policy limits for which the their insured driver is found liable.
Should a company be liable if an unauthorized employee signed a contract under the company?
No , if an employee has committed fraud and signed a contract under the company knowingly unauthorized then the company may not held liable.
Can a co-owner on a checking account be liable for using money from an estate not settled?
Yes, the co-owner would be legally liable for using money in the account from an estate that was not settled.
What are examples of liability account?
A liability account is anything the company owes. Accounts Payable, Notes Payable, these are two examples of a liability account. Unearned Revenue is another example of a liability account. Unearned revenue is revenue a company has received but has not yet fulfilled their obligation to the customer. Because the company is now liable for either providing the product (or service) to the customer or refunding the money paid by said customer, it is a liability account until all obligations are fulfilled.
Can I be held liable for an account my spouse opened in my name?
Yes, in many cases you can be held liable for debts incurred on an account your spouse opened in your name, especially if it is a joint account. It's important to address the issue as soon as possible to minimize any potential negative impact on your credit.
