Thursday, August 1, 2013
Post-dated and stale checks
We discussed legal issues involving bank checks. A bank may accept post-dated and stale checks. Is a bank acting "commercially reasonable" by cashing these checks? Is the requirement to act "commercially reasonable" consistent with allowing a bank to cash a post-dated or stale check? Is selecting a future date for payment in electronic commerce the equivalent of post-dating a check? Your thoughts?
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