<VV> Dealing with banks ~ (was Corvair, but got sidetracked ?)

[Ken Wildman]

if I buy a tow-bar I might send a Negotiable Instrument (check) from someone that I endorsed-and as Wikipedia indicates- I have guaranteed wth my endorsement is a valid Negotiable Instrument-then I owe that amount, just as though I wrote a new check.

I'm just hoping that I can find one to buy.

But the Wiki article would explain my obligations if paying with a check.

Got a tow bar to sell?

Ken (last post on this subject) W.

chaz at properproper.com wrote:

>Rodney :
>
>Banks seem to rely on customers to complain if something's wrong.  They
>don't check much, like names or dates, just that the money's there, and
>they don't seem to care shose money it is.
>I guess they figure if someone lost money, they'll call (to
>over-simplify it.)
>
>A while back, my brother sent the electricity check to the gas company,
>and vice versa, to "buy some time." 
>
>Each cashed the others check, and neither the bank nor the utilites
>noticed the problem, - they just paid the wrong amounts, but didn't
>care.
>
>I've cashed checks, as old as 10 years without a problem, but I didn't
>pass them by a teller - I used the ATM where they "rush" things a bit
>more.  A teller would have wasted a lot of time calling managers, etc.
>
>I never found out if the checks actually cleared the bank of origin, but
>the amount were never debited from my account (one was just a year and a
>half ago, so I think I'm safe.)
>My account does not have enough in it to NOT notice $800 coming out !
>
>I'm not giving financial advice, I'm just recounting my expereiences,
>
>To Arbitrator Ken:
>------------------
>I can't say why you weren't reversed, without knowing the facts (maybe
>they didn't ask/appeal?)
>Ceteris parabis, I think it would be reversible if the person deposited
>a check he or she received and deposited.
>
>The person who writes the check is more culpable than the person who
>takes it on good faith that it is valid.
>At least IMHO, and I have to wonder what case law or statute was used to
>support the decision ?
>
>Re: the "prison" story :
>
>I just like to tell that story because I worked for him, and I could not
>balance his books.
>I was just his database developer, and the data wouldn't work, so I told
>him.
>He terminated me (for digging too deep ?)
>
>I took him to civil court, and since he was an investment counselor, I
>sued for "Restitution" which required that he open his books to the
>court.
>
>The rest is SEC history ($190M Ponzi, pre-Bernard Madoff), although I
>have to wait another 123 years to get my 40 grand (plus interest)!
>
>Who says it's not a "court of justice" ?
>
>PS: This is great conversation, but maybe we could take it off VV,
>before Dennis yells at us ?
>
>Charlie
>
>
>
>> -------- Original Message --------
>> Subject: RE: <VV> Dealing with banks is not for the timid !
>> From: "Rodney Spooner" <rodneyspooner at corvairgarage.com>
>> Date: Sat, March 26, 2011 10:50 pm
>> To: <chaz at properproper.com>, <k-wildman at onu.edu>
>> Cc: <VirtualVairs at corvair.org>, <HallGrenn at aol.com>
>> 
>> 
>> Depending on the bank, I should think that a Federal law would be broken
>> somewhere. I have experienced that banks will pay out on post dated checks
>> that are tendered prematurely. (I have the shorts to prove it.)
>> 
>> Vairy truly yours,
>> Rodney Spooner
>> Riverside, CA 92501
>> 
>> # # #
>> 
>> chaz at properproper.com wrote: " If my bank says it's cleared via their
>> "policy," they are just as bound
>> by that policy as I am."
>> 
>> "I'm not an attorney but I play one in court"
>
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