Originally Posted by
hvncb
I am new as well. I have already endorsed two checks via 12.411 and have the same questions to 'correct' previous redemptions to lawful money. Having read Mr. Merrill's comment that 'bank relied on our signature, etc' and part of me agrees it may be "water over the bridge" Nonetheless, question remains in my mind how UCS 12.411 applies ONLY at time of endorsement: "They shall be redeemed in lawful money on demand..." this is open ended; ie, it does not state a specific time, event (endorsement) or has expiration period. Why not deposit a check w/ naked endorsement, take Fed Res notes and then demand 'lawful money'...who will say "oops, sorry, too late!".......also saw part of another post "By the time you are holding cash, you have already made your demand.." again...why is it too late?...not clear. regards!