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What is the specific law in New Jersey regarding postdated checks?
Wiki User
∙ 15y ago
It is legal to write a post dated check. The Uniform Commercial Code allows it. The UCC is the banking or commercial agreement for all 50 States plus DC and most territories. New Jersey may have its own banking laws but they will follow the UCC fairly closely.
A post dated check does not become negotiable until the date written on it.
http://www.law.cornell.edu/ucc/3/article3.htm#s3-113
Your bank may (and most likely will) accept a prematurely cashed check without pause. They are allowed to do that. under UCC 4-401.
BUT
It is illegal to present (cash) a post dated check. If cashing a postdated check early causes you an overdraft, then you may chase after the payee (who the check was made out to) for the damages.
http://www.helpwithmybank.gov/faqs/banking_check_cashing.html
WARNING
Asking the payee to cover your damages may cause other problems so play carefully. If this is someone you need to keep on the good side, such as your landlord, you might just have to swallow the pain, but try talking to him and ask that they no longer cash your check early.
Other payees might just like to drag it out, such as a mortgage company. Unless you have an express contract to allow them to cash a check on receipt, they can't. They might give you stories about policy and it is written on the back, etc, they would still have to show you agreed to those conditions.
Wiki User
∙ 15y ago
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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
Are postdated checks considered cash?
No. It is very well possible that when you cash the check it does not get paid.
Sentence with postdate in it?
Give me a check with a postdate on it. I won't cash it until then.
What is postdated cheque?
It's a check that's dated after the date it was written. Banks used to not honor checks before the date that was written on them, so people would send a check dated after payday to pay the gas bill or something. These days, if a check shows up at the bank they'll process it no matter what the date is on it...so don't write any more postdated checks.
Name other items that indicate the patients responsability to pay that may appear on the document explaining the payment and check issued by the insurance carrier?
1. check validation 2. check forgery 3. payment deposits 4. postdated checks 5. unsigned checks 6. return checks
What are the laws regarding post dated checks?
no post dated checks alloed in ma.
How long does it take for a postdated check to clear?
The same length of time it takes for any other check to clear. Banks are not actually obligated by law (in the US) to pay any special attention to postdated checks, unless they have been specifically notified of them. If they have been notified, they are supposed to treat them as invalid if presented before the date on the check.
Where can you find out about classic checks?
One can learn information about classic checks on the internet through the website Checks Unlimited. Plenty of information regarding classic checks is available.
What are the types of checks in the Philippines?
Types of checks in the Philippines are: Personal Check Certified Check Traveler's Check Crossed Check Anti Dated Check Postdated Check Cancelled Check Rubber or Bouncy Check Stale Check Defective Check Cashier's Check Money Order
How do you record in your company's books the dated and post-dated checks received from clients?
Postdated checks. If a customer gives you postdated checks, treat them as a note receivable. In other words, debit it to Notes Receivable, not to Cash. On the date written on the check, deposit it to your firm's account, debiting Cash and crediting Notes Receivable. Returned checks. When the bank notifies you that it is returning a customer's check for NSF (not sufficient funds), debit the customer's account immediately-even if you plan to redeposit the check the same day. For good internal controls, instruct your bank to address all returned checks to someone other than you-possibly the owner or a senior manager. This can protect you if an employee tries to use fictitious checks to cover temporary shortages. http://www.aipb.org/newsletter/bookkeeping_tips/pdfs/BookkeepingTips_2-38.pdf
What is UCC ruling on postdated checks?
Ucc 4-401 says you must give the bank written notice. If you do, the bank cant pay the check till that date. If they still do and you get nsf they owe you. If no notice then nsf, ur sol.
When will they start sending out the checks?
The timeline for sending out checks can vary depending on the specific situation or program. It is best to consult the relevant authorities or organizations for specific information on when checks will be sent out in a particular case.
