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Without Recourse is a legal defense protecting the endorser from liability should the drawer (the person the check is originally from) doesn't pay. It removes the endorser from secondary liability normally associated with endorsing a check. Only accept such an instrument if you're reasonably certain the original check writer can and will pay.
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When a check has been returned delinquent what does that mean?
A delinquent check is one that does not have the funds to support it. This means that the person wrote a check without having the money to back it up, Typical punishments for this range from heavy fines to actual jail time.
What does an unsecured line of credit mean?
It's a kind of loan that there is no collateral available for it. It means if the person who takes that loan couldn't pay it back at due the time, the lender has no recourse.
What are check endorsements?
Check endorsements are how the back of the check is signed or stamped.When you "endorse" the check, you are signing your name to guarantee the item and acknowledge you have accepted it or to state some qualification within the endorsement.You can qualify the endorsement if you wanted to pay a check over to a third party. In the example, the check is made to you, John Doe and you want to pay it to Sally Blow you would endorse the check, "Pay to the order of Sally Blow" then sign John Doe.This would be a qualified endorsement.Other endorsements can state, "Without recourse" which is supposed to mean you accept no responsibility for the item if it bounces, but banks don't honor that as a rule.You can also endorse, "for deposit only" or include "for deposit only and the account number". This is intended to prevent someone else from depositing it into their account.Some companies use and endorsement stamp that stamps something like: "For deposit only, Bank of America, 011000111" This is an endorsement as well.For Deposit OnlyYour Company NameAccount Number:# 000-000-000000
Is it possible for someone to stop payment on an official check?
Define what you mean by "official check." If you mean a government check - no. Once it is issued it is payable on demand.
What does for deposit only mean on a check?
I means exactly what it says, that the check can only be deposited, not cashed and no cash back on a deposit. An even more restrictive endorsement would be "for deposit only in acct. xxxxxxx". Generally speaking, people use this endorsement to prevent someone from stealing the check and then cashing it out.
What can you do if you are treated wrongfully at NJ casino?
If, by wrongfully you mean defrauded or physically injured, you have legal recourse. Check with a lawyer. If you mean disrespected or otherwise offended, you can take your business elsewhere.
What does without recourse to sick leave mean?
Not allowed to take sick leave, or to use the quota of days that are otherwise allowed for sick leave.
When a check has been returned delinquent what does that mean?
A delinquent check is one that does not have the funds to support it. This means that the person wrote a check without having the money to back it up, Typical punishments for this range from heavy fines to actual jail time.
What does it mean to bounce a check?
the cheque is being returned(bounced back) by the bank for non-sufficient funds. To bounce back a check means to To bounce back a check means to
What does it mean do not cash check without noting?
I don’t know
What does an unsecured line of credit mean?
It's a kind of loan that there is no collateral available for it. It means if the person who takes that loan couldn't pay it back at due the time, the lender has no recourse.
How far back in years does the drive-a-check report show?
Never heard of "drive-a-check." If you actually mean a drivers record check, it can go as far back as the person conducting the check wants to go.
What does pay to order of mean on the back of a check?
Pay to order on the back of a check is meant to sign a check over to someone that is not on the face of the check so they can cash or deposit it. Some banks do not allow this so check with the individual bank before you sign it over.
What does pay to the order of mean on the back of a check?
Pay to order on the back of a check is meant to sign a check over to someone that is not on the face of the check so they can cash or deposit it. Some banks do not allow this so check with the individual bank before you sign it over.
Is it legal to back date a check?
Legal...probably sure...but does it mean anything...NO. I mean, why would you bother....it doesn't mean or indicate you PAID back then. At most that you wrote the check back then, (which means nothing....so you wrote it and put it in the desk drawer...you don't get any credit for that). When it is presented and accepted are the meaningful things.
In a sexual term what does the term bear back mean?
Bare back means to have sex without a condom. Bear back means you have a very hairy back.
For deposit only mean on a check?
Technically, it means that that check cannot be cashed, it can only be deposited into the account listed on the back of the check. (Actually that's not always the case.)
