0
A "second party check" is a check where the payee is depositing or cashing the check. For example, Bob Smith writes a check to his brother John Smith. John Smith is the payee, (second party) who deposits the check into an account in his own name, or cashes the check.
If John Smith wants to endorse the check on the back to a different person, that other person would be a third party. The check would now be a "third party check." Banks are likely to not accept this type of check if the third party tried to cash it, because they cannot verify endorsements.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is a second party collection agency?
A second party collection agency is an agency trying to collect a debt that is owed to someone else. If for example, you owe on a store credit card from ABC store, they may turn the debt over to another agency that has nothing to do with them. This is a second party collection agency.
What goes to third party collections?
If a payday loan is over four yrs old and is sold to a 3rd party collection agency, can they file charges on you for a Bad Check? Or can they just serve you to request payment? The original debt company says i no longer own them!
What is a organizational party?
an organizational party refers to one of the three parts of a political party. there is the governmental party, the party in the electorate, and the organizational party. the organizational party organizes campaigns, conducts polls and surveys of public opinion, basically they are the "worker bees" of the political party.
Who is third party under an insurance contract?
The third party is the injured party to whom any compensation is paid
Who is third party in insurance?
third party is a party except insured or insurer, who may be subjected to a loss involved with the insured
How do you endorse a second party check?
A second party check must be endorsed first by the individual that the check is issued to. Signature of the second party is necessary underneath the signature of the first party. Occasionally additional identification documents might be necessary.
You accepted a Third Party Check that then bounced Who is responsible the first or second party?
The third-party would contact the second-party as it was that party that received the goods or services from the third-party. The second-party would have recourse against the original issuer (first-party).
What is a single party check?
In regards to check cashing, a single or one party check is a check in which the check writer and beneficiary are the same person. In other words, if I write a check from my bank account to myself, I am writing a single party check. Contrast this with a two party check in which one person or company writes a check to a second person or company, or a three party check in which one person or company writes a check to a second person or company and a third party guarantees some part of the check (usually the funds).
Can a bank accept a two party check without the second party being present to endorce?
No, it can't be accepted without both parties endorsements.
What are first party second party and third party video games?
there is no such thing as a second party
What is a two party check?
A two party check is a check which is made out to more than one party. To cash or deposit a two party check, the check must be endorsed by both partied that the check is written out to.
If the party of the first part partakes with the party of the second part whos party is it?
The first part is going to the second part's party, so it's obviously The second part's party.
Two party check?
A two-party check is a check made out to two different individuals or entities.
What is the second biggest party of the year?
what is second largest us party day of the year
Is a check from your job a Third Party Check?
A third party check is a check which is signed over to an individual not named on the front of the check as either the maker (entity writing the check) or the payee (to whom the check is payable). The payee signs the check over to another individual, who is the "third party."
Can a two party check be cashed only by the first party?
generally no, but check with your financial institution.
What is a flash party?
it is a party you plan at the lat second
