Accepting a check that is postdated may provide the tenant with a legal defense that negates criminal intent even if the check doesn't clear.
As a landlord, collecting a check that has been postdated could be dangerous.
The tenant may know that he or she will not have the money in time, the check could have a stop-payment placed on it, or the check may bounce.
Waiting to cash a check that has been postdated provides the tenant with time to make other living arrangements, move out or otherwise abort the lease agreement.
A woman was frustrated because she'd just opened a checking account a few weeks ago, and now it was overdrawn. Finally they discovered the culprit: a check the woman had written on June 21st. In my case, every check was eventually deposited and funds withdrawn from my account.
This hurt me twice because I, too, had added the money back into my checkbook. When I got home today, I looked up the actual law on stale checks.
While running errands this afternoon, I stopped by the bank to deposit a check. “It had been so long that I thought they must have lost it.
This article was written by Attorney Mary Beth Guard, Editor of Bankers ( Guard was formerly general counsel for the Oklahom Banking Department, general counsel and EVP for the Oklahoma Bankers Association, and EVP of Specialized Services for Thomson Financial Publishing.
She teaches and speaks all over the country on banking law matters.
It turns out that a bank can pay or return an old check as it sees fit.
According to the United States Uniform Commerical Code, a bank is not obliged to pay a check more than six months old.