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Thread: Endorsement Guaranteed

  1. #11
    Taking gold out of circulation probably was done with that Article in mind.

    This has also crossed my mind, but again, it is only a presumption. I would include within any claim or record, that you are NOT a debtor concerning the matters.

  2. #12
    JohnnyCash
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    Quote Originally Posted by David Neil View Post
    This check is my paycheck and by rights does not belong to me. I was surprised to see the routing information as well, but normally I have access to see the image when I deposit and that is what I was expecting when I requested the image
    I'm just questioning how the bank is allowing David Neil to view/get a copy of the backside of company paycheck after processing. You can get a deposit image of the face of check, but not backside. That seems highly unusual. The check was written by someone else; why should he have any right to view the backside of it after bank processing?
    Last edited by JohnnyCash; 09-16-14 at 05:17 PM.

  3. #13
    Senior Member Michael Joseph's Avatar
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    Quote Originally Posted by JohnnyCash View Post
    I'm just questioning how the bank is allowing David Neil to view/get a copy of the backside of company paycheck after processing. You can get a deposit image of the face of check, but not backside. That seems highly unusual. The check was written by someone else; why should he have any right to view the backside of it after bank processing?
    Agreed. In my experience when there is a problem with the processing of the check the bank will sometimes send me copies of the front and back of the check. I chalk it up the fact we are working with people who have varying levels of intelligence. Such is life, I suppose. When I was new to this path, I used to hold a view concerning all lawyers. But as experience has shown, just because someone qualifies to hold a title does not mean one is with the knowledge required of its practice.
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  4. #14
    Quote Originally Posted by David Neil View Post
    In my due diligence to ensure my Lawful Money demand is documented, I went to the bank to get a copy of one of my demands. My methodology for negotiating my checks is to place the lawful money demand, "Special Deposit", no signature of any kind. I normally deposit in the ATM to avoid questions but have used this same method with the teller face to face without issue.

    Anyway when I received my check copy, it had been routed through the system and I see this stamped under my non-endorsement:
    "Credited To The Account Of The Within Named Payee Endorsement Guaranteed Bank of America, N.A."

    Can anyone deduce why the bank is guaranteeing an endorsement? My understanding is that I did not endorse private credit and that my deposit was made as "Special" and therefore the funds deposited have to be made in lawful money and returnable to me as lawful money
    Attachment 1918
    STANDARD OF REVIEW.

    We review a district court's grant of summary judgment de novo, applying the same standard as the district court.

    Turner v. Baylor Richardson Med. Ctr., 476 F.3d 337, 343 (5th Cir.2007).

    Summary judgment is proper only if “the movant shows that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law.” Fed.R.Civ.P. 56(a).

    When reviewing a summary judgment motion, we draw all reasonable inferences in favor of the nonmoving party.

    Turner, 476 F.3d at 343; see also Ford Motor Co. v. Tex. Dep't of Transp., 264 F.3d 493, 498 (5th Cir.2001) (“On cross-motions for summary judgment, we review each party's motion independently, viewing the evidence and inferences in the light most favorable to the nonmoving party.”). -

    See more at: http://caselaw.findlaw.com/us-5th-ci....kk9QwPbh.dpuf
    Last edited by Chex; 06-13-15 at 12:53 PM.
    "And if I could I surely would Stand on the rock that Moses stood"

  5. #15
    Quote Originally Posted by David Neil View Post
    In my due diligence to ensure my Lawful Money demand is documented, I went to the bank to get a copy of one of my demands. My methodology for negotiating my checks is to place the lawful money demand, "Special Deposit", no signature of any kind. I normally deposit in the ATM to avoid questions but have used this same method with the teller face to face without issue.

    Anyway when I received my check copy, it had been routed through the system and I see this stamped under my non-endorsement:
    "Credited To The Account Of The Within Named Payee Endorsement Guaranteed Bank of America, N.A."

    Can anyone deduce why the bank is guaranteeing an endorsement? My understanding is that I did not endorse private credit and that my deposit was made as "Special" and therefore the funds deposited have to be made in lawful money and returnable to me as lawful money
    Just caught this one a few minutes ago in doing a search for additional background information relating to Title 12 U.S.C. §95a(2) and Title 50 U.S.C. §4307(e) . . . .

    Here is the "REAL DEAL" behind the bank's stamp wherein they have acted in place of the endorser to guarantee the check/draft "medium of exchange" was actually paid/credited before subsequently presented to the collecting/payor bank, or other such payor . . .

    First: “The entire taxing and monetary system are hereby, placed under the UCC.” 80 Stat. 1125, Pub. L. 89-719, Nov. 2, 1966 - Federal Tax Lien Act of 1966

    Second: Uniform Commercial CodeU.C.C. - ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS (2002)PART 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS
    § 4-205. DEPOSITARY BANK HOLDER OF UNINDORSED ITEM.

    If a customer delivers an item to a depositary bank for collection:
    (1) the depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of Section 3-302, it is a holder in due course; and
    (2) the depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer's account.

    So, under The U.C.C. Section 4-205 shown above, when the depositary bank submits an un-i/endorsed item for payment, it warrants to the payor bank or other payor, and to the drawer that the amount of the item was paid to the Payee customer or deposited to the customer's account. This is a statutory warranty. It does not need to be stamped upon the check; it applies automatically.

    If it is later discovered that the funds were not paid to the payee customer or deposited to the customer's account, a breach of warranty action can be mounted against the depositary bank.

    I hope this helps to clear up why the above stamp was placed on the back of the un-e/indorsed deposited check . . .

    If it was me, I would make the above check/draft along with a copy of U.C.C. 4-205 into an exhibit and parade them both around as confirmation of my notice and demand already being properly made.

    Notice to acting Fiscal Agent member bank is also notice to Federal Reserve System district principal(s)/U.S. Treasury, etc. and vice-versa . . .

    Given that we've now learned about UCC 4-205 and how it works - it can now be employed to our own advantage when transacting such non-i/endorsed checks/drafts like so:

    lawful money and full acquittance/discharge is demanded for all
    transactions, Title 12 USC §411, §95a(2) and Title 50 U.S.C. §4307(e)
    (transacting absent accommodation authorized per U.C.C. 4-205)

    Etymology and meaning for the words "acquit", "discharge" and "demand":
    acquit (v.) early 13c., "to satisfy a debt" (either for oneself or on behalf of another), from Old French aquiter "pay, pay up, settle a claim" (12c.), from a "to" (see ad-) + quite "free, clear" (see quit (adj.)). Meanings "set free from charges" and "to discharge one's duty" both recorded from late 14c. Related: Acquitted; acquitting; acquittance.

    Note: An acquittance is a discharge of a party from an engagement to pay a sum of money.

    discharge (v.) early 14c., "to exempt, exonerate, release," from Old French deschargier (12c., Modern French décharger) "to unload, discharge," from Late Latin discarricare, from dis- "do the opposite of" (see dis-) + carricare "load" (see charge (v.)).

    demand (v.) late 14c., "ask, make inquiry," from Old French demander (12c.) "to request; to demand," from Latin demandare "entrust, charge with a commission" (in Vulgar Latin, "to ask, request, demand"), from de- "completely" (see de-) + mandare "to order" (see mandate). Meaning "to ask for as a right" is early 15c., from Anglo-French legal use. Related: Demanded; demanding.

    Last edited by American_National; 07-07-16 at 11:02 PM.

  6. #16
    Attachment 4253

    Attachment 4254


    I gave the clerk of court the opportunity to endorse the backside. See how it bled through?

  7. #17
    Sorry about the 12 or so edits to my last post David. . . I keep seeing places where additional words and rephrasing would make the post clearer for others to read. :-)

    Yep, it can just be made out on the last image associated with your post above.

    Did she ever post-facto endorse it, or did she persist in choosing to not be an accommodation party to the instrument?
    Last edited by American_National; 07-07-16 at 11:15 PM.

  8. #18
    David, this U.C.C. section may be helpful to you in relation to the images of your U.C.C. 3-104(b) instrument that the clerk of the court did not act to endorse . . .

    Please take note of section (a)(3) below related to an undertaking or power to give, maintain, or protect "collaterial" to secure payment + the authorization or power part to the holder to "CONFESS" judgment or realize on or dispose of collateral . . . .


    U.C.C. Section § 3-104. NEGOTIABLE INSTRUMENT.


    (a) Except as provided in subsections (c) and (d), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it:
    (1) is payable to bearer or to order at the time it is issued or first comes into possession of a holder;
    (2) is payable on demand or at a definite time; and
    (3) does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money, but the promise or order may contain (i) an undertaking or power to give, maintain, or protect collateral to secure payment, (ii) an authorization or power to the holder to confess judgment or realize on or dispose of collateral, or (iii) a waiver of the benefit of any law intended for the advantage or protection of an obligor.

    (b) "Instrument" means a negotiable instrument.


    (c) An order that meets all of the requirements of subsection (a), except paragraph (1), and otherwise falls within the definition of "check" in subsection (f) is a negotiable instrument and a check.


    (d) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this Article.


    (e) An instrument is a "note" if it is a promise and is a "draft" if it is an order. If an instrument falls within the definition of both "note" and "draft," a person entitled to enforce the instrument may treat it as either.


    (f) "Check" means (i) a draft, other than a documentary draft, payable on demand and drawn on a bank or (ii) a cashier's check or teller's check. An instrument may be a check even though it is described on its face by another term, such as "money order."


    (g) "Cashier's check" means a draft with respect to which the drawer and drawee are the same bank or branches of the same bank.


    (h) "Teller's check" means a draft drawn by a bank (i) on another bank, or (ii) payable at or through a bank.


    (i) "Traveler's check" means an instrument that (i) is payable on demand, (ii) is drawn on or payable at or through a bank, (iii) is designated by the term "traveler's check" or by a substantially similar term, and (iv) requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the instrument.


    (j) "Certificate of deposit" means an instrument containing an acknowledgment by a bank that a sum of money has been received by the bank and a promise by the bank to repay the sum of money. A certificate of deposit is a note of the bank.


    In another thread a couple of days back, we were discussing with doug555 about the addition of words on the face of the check/draft to evidence the maker's non-accommodation status and demand for lawful money use in all transactions.

    The highlighted parts of Section (a) above may also impact what can actually be placed on the face of such checks/drafts and subsequently accepted by the banks as them still being an "unconditional" promise to pay . . .

    From the above, it appears to me that through this UCC, the financial institutions have secured their right to presumptively require accommodation/surety status from the party transacting the check/draft. . .

    Interesting . . . . eh?



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