that [the check-writer doesn’t have] sufficient funds on deposit . My mechanic dutifully waits until Monday to cash the check, but it still bounces.
I tell him that I need to date the check with next Monday’s date, because my paycheck will be directly deposited into my bank account late on Friday, which will give me sufficient funds to cover the check.
The sweeping language in , though, I wonder, whether a distinction could be made between a situation where the check-writer genuinely expects to have the money to cover the check on the date he assigns, and a situation where the check-writer knows full well that he will not have the money to cover the check on that date. There may be an argument that in the latter type of case, the check-writer does “know at the time of the making” that he doesn’t have, and won’t have, sufficient funds to cover the check. knowing at the time he did not have sufficient funds.”).
R.3d 464 (1973) (suggesting “that this division of authority . It’s worth noting here that our statute does cover drafts as well as checks.
If you choose to accept a postdated check, you run the risk that the person who wrote the check could close their account before you deposit the check, or that their account will not have sufficient funds when you deposit the check.
People usually write PD checks when insufficient funds are available to cover the check on the date on which the payee needs it.
may be occasioned more by differences among the statutes involved, than by differences of opinion as to the legal principles applicable”).
The translations below need to be checked and inserted above into the appropriate translation tables, removing any numbers.
Unlike a normal check, a postdated check is not necessarily payable on demand.
Since this kind of check is not payable on demand, most states refuse to cover postdated checks under bad check laws.