On Tue, Apr 9, 2024 at 4:37 PM Michael or Penny Novack < stepbystepf...@comcast.net> wrote:
> On 4/9/2024 12:50 PM, R Losey wrote: > > Thanks; I wasn't sure if those (cash vs accrual) were the correct terms. > > > > Legally, are you saying that if I write a check for $50 and send it to my > > uncle, it's "paid" whether or not he ever cashes it? > > > > As as aside, I am actually in this situation; I sent e check many years > ago > > to someone who has never cashed it; when I asked about it, the person > told > > me that they had no intention of cashing the check, but also couldn't > find > > it to return it, so I've been carrying that check now for years. Sadly, > the > > cost of issuing a "stop check" is not worth it, and the bank says it will > > honor a check, no matter how old, so I don't see any way out of this. > > What are the laws of your jurisdiction and/or the banking customs? Or > the rules of your bank as to how long they will consider a check "live" > (will honor it if presented). > I'm in Texas; I specifically asked the bank and they said that they WOULD honor the check, regardless of how old it was. This surprised me greatly, as I worked in a bank in Illinois, and we would hold any check that was "old" (I think perhaps six months). They suggested I issue a "stop check", but as I noted, it's not worth it. > Most places I have ever lived, most banks I have dealt with, have > definite rules that apply unless the check itself specifies a shorter > period. Haven't you ever gotten a check marked "void after 60 days" (or > whatever) > Certainly, but I didn't expect this situation and I didn't write any such thing on the check. > Your bank told you WILL HONOR or CAN HONOR? It is common for banks to > say CAB HONOR to relieve themselves of liability in a case where they > did honor a check after the date their policy (or jurisdiction laws) > specify. In other words, "we normally will not honor checks more than > six months old but can honor a check no matter how old". > I thought they said "WILL HONOR" > But back to where this started, you paid your uncle on the date you gave > him that check. > Right, but this wasn't any kind of legal debt; he had visited and done us some favors, and we tried to thank him by sending him a check. He said he wouldn't take it, but he couldn't find it to give it back. He may have thrown it out; he just couldn't remember what he did with it. Thus, I am still considering an outstanding check, even though it is probably safe to consider it gone. _________________________________ Richard Losey rlo...@gmail.com Micah 6:8 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
