Legal Question in Banking Law in Maryland
I put a stop payment on a check. A month later the check was cashed by a cash checking service, but returned unpaid by my bank. The service is coming after me because the person that cashed the check gave them a bad phone number. My bank says that I am not liable but the service insists that under a Federal law, Uniform Commercial Code 3.302, that I am.
Asked on 4/21/10, 11:30 am
1 Answer from Attorneys
Daniel Press
Chung & Press, P.C.
The drawer of a check is normally going to be liable to a holder in due course of the check, which is someone who acquires it for value and without knowledge of any defenses to payment. A stop payment does not prevent that.
Answered on 4/26/10, 11:42 am
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