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Yes, the payee received the funds from the bad check and is responsible for returning those funds to the check cashing facility. The payee can then seek restitution from the maker for the funds from the check plus any fees, etc. they paid.
All checks require a payee. Payee is the person who is going to use the check and get the money. You cannot issue a check that does not have a payee.
Any financial transaction that has a demand for payment offered against n account that is (a)Closed (b)not liable to pay the bearer (c) is not owned by the payee is classed as FRAUD. The payee is in basic saying that the document, in this case the check will be honoured and the bearer will receive the financial outcome, the check value. In most cases it IS a criminal offence and can be deemed sanctioned by a criminal charge.
Tell me the name that is written in the payee section of the check in question.
The person who is going to receive the funds from the check.
No.
Yes, the payee received the funds from the bad check and is responsible for returning those funds to the check cashing facility. The payee can then seek restitution from the maker for the funds from the check plus any fees, etc. they paid.
All checks require a payee. Payee is the person who is going to use the check and get the money. You cannot issue a check that does not have a payee.
a payee is wait whats a payee
payee can endorse the check in favour of another party and sign on the check
I addressed the check to the payee.
The payer is the person that is paying a sum of money to the payee. The payer signs the check and the payee is the person who cashes the check.
The payee is the one that receives a payment. On a check or money order, the payee is the person the check is made out to. This is the person who can cash the check, or deposit it into his account. On a promissory note he is the one who receives the money from the loan.
The drawer of the check has to issue 'stop payment' instruction to the drawee bank. If the check has not been already encashed even before such instruction is received by the bank, another check, in lieu of the lost one, can be issued to the payee. A letter of indemnity from the payee before issuing the replacement check reinforces the drawer's security position.
The payee (person who received the money from the check cashing service) is responsible to the check cashing service for the bad check. They must repay the money and any fees associated with the check return. However, the maker (person who wrote the check originally) is responsible to the payee for providing an alternate form of payment for the amount of the check, and may also be liable for any fees associated with the check's return that the payee had to pay to the check cashing service. So, in short: The person who received the money from the check cashing service repays the service The person who originally issued/wrote the bad check is still responsible for paying the person to whom he gave the bad check.
Any financial transaction that has a demand for payment offered against n account that is (a)Closed (b)not liable to pay the bearer (c) is not owned by the payee is classed as FRAUD. The payee is in basic saying that the document, in this case the check will be honoured and the bearer will receive the financial outcome, the check value. In most cases it IS a criminal offence and can be deemed sanctioned by a criminal charge.
Tell me the name that is written in the payee section of the check in question.