Post dating checks in california
The check is not legal tender until the date on the check.I cant share about every bank but i know that is a post dated check is presented at the bank i work at we will not honor it.(f(4)) "The presentation of a postdated check is not subject to the civil or penal sanctions" that would normally apply to someone who wrote a check with insufficient funds because the postdated check promises "to discharge a present obligation at a future date" and that money would be available to meet the debt when the check is cashed.Should the question arise the check is "postdated", there should be no problem if the debtor wrote the words "postdated" above the date of any of the checks submitted, however, without this kind of documentary evidence, it may be difficult for the debtor to prove the checks were "postdated".To illustrate, an accounting clerk receives a ,000 post-dated check negotiable in one week.She cannot debit cash (asset) and credit sales revenue or accounts receivable to record this…
Once someone hands you a signed check, you are legally allowed to deposit that check at anytime.
Further, we should mention in the post dated stamp paper itself that the agreement has already been entered between the parties and the same is valid from ........... If a customer gives you postdated checks, treat them as a note receivable.
In other words, debit it to Notes Receivable, not to Cash.
However, a bank has no duty to respect that limit, and may pay the check in advance of its stated date, unless the customer gives notice to the bank of the postdating, describing the check with reasonable certainty.
(Commercial Code § 4401) It is a violation of the Fair Debt Collection Practices Law for a debt collection agency or a creditor who regularly collects its debts to deposit a postdated check before its due date.