Postdating a check in california
There is a down side to accepting post dated checks...If a creditor accepts a post-dated check in exchange for merchandise or services, in many jurisdictions the seller is considered to have extended credit to the issuer of that check.*** routinely prepares, issues and posts cashier's checks a few days in advance of their payment date.*** does this so that the payees receive their pension payments no later than the date the pension is due.[Table of Contents] [Previous Page] [Next Page] [Search] Inclusion of Preissued, Postdated Cashier's Checks in FDIC Deposit Assessment FDIC-87-58 December 4, 1987 Richard T.Miller, Attorney This memorandum responds to a deposit assessment protest submitted by *** of the ***.
*** backs these positions by arguing that the pension checks pose no deposit insurance risk. As applied to *** protest, the first step in this analysis is to determine whether or not preissued, postdated cashier's checks meet the definition of "deposit". As a consequence, *** postdated cashier's checks legally are not cashier's checks or other officer's checks. § 1817(b)(4)(A) (assessment base of a bank is "equal to the bank's liability for deposits'').FANCY BEAR has also been linked publicly to intrusions into the German Bundestag and France’s TV5 Monde TV station in April 2015.Alperovitch’s identification of these two incidents ought to make them of particular interest for re-examination (CA readers will recall that the mention of Peter Gleick in the forged Heartland memo proved important.) In each case, including the DNC hack, attribution of the TV5 Monde and Bundestag hacks resulted in a serious deterioration of relations between Russia and the impacted nation – arguably the major result of each incident.In the FDIC deposit assessment audit of December 1986, the FDIC took exception to the pension pay service fund, account no. Furthermore, the FDIC included *** preissued, postdated cashier's checks in the assessment base.In light of *** protest of this assessment, you asked whether or not preissued, postdated cashier's checks are assessable where they are posted to the bank's general ledger on the release date. THE FDIC's POSITION The FDIC's argument essentially is that these preissued, postdated cashier's checks are deposits, and they consequently are assessable. In addition, the payees of *** postdated cashier's checks are on notice that the instruments are not negotiable until the due date. Furthermore, and unlike a preissued, postdated cashier's check, a money order is an effective obligation without restriction on the payment date.
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There are several advantages to taking postdated checks in settlement of an account balance including these: 1.