Legal Question in Real Estate Law in New Mexico
Property Management Agreements
When issuing a check to two parties, is there a legal obligation to address the check with AND versus OR? (Joe AND Mary versus Joe OR Mary) Or is this something we should have the parties specify on their written agreement?
Asked on 6/10/08, 12:41 pm
1 Answer from Attorneys
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
Re: Property Management Agreements
A check payable to "Joe or Mary" permits either one to cash it without the knowledge or consent of the other. A check payable to "Joe and Mary" requires the endorsement of both before a bank will process it. If your obligation is to both Joe and Mary, then you should use the AND conjunctive by all means.
Answered on 6/10/08, 2:59 pm
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