Legal Question in Banking Law in Georgia

I recently sold a product on ebay for $4200 and I received a check for it. I deposited the check in my account on friday and the bank said that it would take 2-3 days for the check to clear. The check cleared and I sent off the product to the buyer on tuesday. Today my wife checked my account and she notice that the bank took the $4200 back out. Now I'm out of a microphone thats worth$5000. I wanted to know if the bank had any responsibility for the transaction, because if the check never cleared, I wouldn't have sent the product off.


Asked on 10/08/09, 10:22 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

No - that is the risk in taking a check, and you certainly should have waited more than 2-3 days. You should not even take a cashier's check without waiting at least 10 days (and probably longer) for it to clear.

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Answered on 10/14/09, 8:45 am


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