Legal Question in Banking Law in Illinois
postdated check
Is it illegal to deposit a check if it is
postdated for the following day?
Asked on 10/03/06, 5:31 pm
1 Answer from Attorneys
David K. Staub
Staub Anderson LLC
Re: postdated check
No it is not illegal to deposit the check. In fact, under Section 4-401 of the Uniform Commercial Code, a bank may pay a postdated check before its date unless the customer has give the bank notice of the postdating. Notice should be given in the same manner as a stop payment. If a bank charges the customer's account before the date stated in the notice of postdating, the bank is liable for damages for the loss resulting from its act.
David K. Staub, an Illinois business lawyer
Answered on 10/03/06, 5:59 pm
Related Questions & Answers
-
Names on bank accounts If a person has someone else put on their savings and... Asked 7/07/06, 9:44 pm in United States Illinois Banking Law
-
Endorcement law what are the laws on someone signing my name to a check for 5000.00... Asked 6/27/06, 12:46 pm in United States Illinois Banking Law
-
Freezing Your Checking Account I have a checking account and mortgage on commercial... Asked 12/01/05, 2:04 am in United States Illinois Banking Law
-
''receipt or acknowledgement of payment'' i am making monthly payments to a local... Asked 11/22/05, 12:18 am in United States Illinois Banking Law
-
Is it legal to require non-refundable fees to brokers in IL? We were charged a... Asked 1/24/05, 10:40 am in United States Illinois Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
