Postdating check illegal illinois updating iphone from 1 1 4 to 2 1
Statement by the maker of the check at the time of tender that he has insufficient money in bank to cover the check, though he expects to have the money in the bank by the time the check is presented.
In effect, the payee has agreed to extend credit and there is no present consideration.
There are several advantages to taking postdated checks in settlement of an account balance including these: 1.
The fact that you are holding a check that will be presented to the bank for payment on a specific date places a burden on the debtor to have funds on deposit when the check is presented. In the event that the check is dishonored and the customer is sued, the existence of the check makes it harder for the customer to argue that the debt was never owed. Even if a post dated check is not honored when it is first presented, there is always the possibility that the check will clear at its second presentment, or that the creditor can tender the check to the debtor's bank on a collection basis.
There is nothing more frustrating for the Court than having to deny a person or business a remedy to which they should be entitled because of failure to follow statutory procedures.
In criminal cases, failure to comply with any of the statutory procedures requires Judges to deny the warrant or citation.
Therefore, the protections offered to creditors under the various "bad check" laws may not apply.There is a down side to accepting post dated checks...If a creditor accepts a post-dated check in exchange for merchandise or services, in many jurisdictions the seller is considered to have extended credit to the issuer of that check.Which way you proceed in your case will depend on the circumstances in your case.Whether the issuance of a bad check is a crime will depend on several factors.
You should review these factors carefully against the particular facts in your case before applying for a warrant or a citation.