Legal Question in Banking Law in Georgia
i have a customer i don't know who made a non local deposit by check into my business checking account for a large amount ($180,060) to buy some consumer electronics in bulk ( i am a whole seller), it is safe for me to use the money after being cleared by my bank (10 days) ? or can the check bounce several days later after being cleared by my bank in the money available in my account? can i be liable for something or how can i protect myself from being liable ? can i get an written statement by my bank that say is ok for me to use the money?
Asked on 6/01/12, 8:18 pm
1 Answer from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
The check could bounce later. The key is not what your bank says but what his bank does. It's unlikely you'd have a problem, but I'd wait a bit longer.
Answered on 6/01/12, 8:56 pm
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