A Fine Kettle of Fish

[John Howard]

As if I didn't have enough on my plate already...

To try to raise some cash I listed an item on Craigslist. An individual responded with an offer to buy the item sight unseen and that he would have his mover pick it up after I deposited the certified check. I applied the smell test to this situation, and it failed. But I thought I would have some fun with it after all. I wrote "WITHOUT RECOURSE" on the check, signed it with the usual 12 USC ?411 demand and deposited the check. I then told the nice lady that I suspected the check was bogus. She informed me that if the bank did not get paid they would take it back out of my account, even if I had spent the money. I will go in on Monday and talk to the vice president of the bank an share my suspicion with her. No, I wont spend a dime of it until this is all sorted out.

Suitors, what do you think?

[shikamaru]

As if I didn't have enough on my plate already...

To try to raise some cash I listed an item on Craigslist. An individual responded with an offer to buy the item sight unseen and that he would have his mover pick it up after I deposited the certified check. I applied the smell test to this situation, and it failed. But I thought I would have some fun with it after all. I wrote "WITHOUT RECOURSE" on the check, signed it with the usual 12 USC ?411 demand and deposited the check. I then told the nice lady that I suspected the check was bogus. She informed me that if the bank did not get paid they would take it back out of my account, even if I had spent the money. I will go in on Monday and talk to the vice president of the bank an share my suspicion with her. No, I wont spend a dime of it until this is all sorted out.

Suitors, what do you think?

Why do banks ask if you are an account holder with them before administering any commercial paper you tender?

The proceeds of your account are the surety for whatever commercial paper, most likely checks, that you present through that bank.

Banks are in business to profit while limiting liability.

[John Howard]

Is the bank liable in view of the fact that I signed without recourse?

[David Merrill]

As if I didn't have enough on my plate already...

To try to raise some cash I listed an item on Craigslist. An individual responded with an offer to buy the item sight unseen and that he would have his mover pick it up after I deposited the certified check. I applied the smell test to this situation, and it failed. But I thought I would have some fun with it after all. I wrote "WITHOUT RECOURSE" on the check, signed it with the usual 12 USC ?411 demand and deposited the check. I then told the nice lady that I suspected the check was bogus. She informed me that if the bank did not get paid they would take it back out of my account, even if I had spent the money. I will go in on Monday and talk to the vice president of the bank an share my suspicion with her. No, I wont spend a dime of it until this is all sorted out.

Suitors, what do you think?

I am having trouble getting through this. You say the check is certified? I am not sure what that means but that sounds like a cashier's check in some respects. I believe that it means that his bank has already taken those funds and set them aside. The funds are certified to clear when your bank presents the check for demand.

The remainder then, of your post, is hypothetical. I think the Without Recourse in your situation is moot. You made the presentment and you got a R4C on it, verbally but the teller made it clear that the Recourse of the transaction being empty of funds would be back on you.

[John Howard]

Like I said, it doesn't smell right. Upon review it appears to be drawn on a business account. As long as I don't part with my property or touch the money I have not defrauded anyone, but it seems like this character that sent the check has committed a crime or two.

[David Merrill]

If it clears?

[John Howard]

We shall see. Would you pay 2 grand more than I asked for something? Then ask me to send the mover his share by Western Union?

[David Merrill]

Was the check certified?

[John Howard]

In the emails he said it would be, but no it was not.

[David Merrill]

Then I get it now. I missed some details or you forgot to add them.

I am wondering why mention to the bank teller that the check might be bogus? Why not just hold on until it cleared?