It is not difficult to understand that a post dated cheque is not payable on demand.The courts considered under the Negotiable Instruments Act, 1881. In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque: If a post dated cheque is a bill of exchange which is not payable on demand how the stamp duty will be calculated on such a bill of exchange.
Christian mom blogger Glennon Doyle Melton has announced her engagement to soccer star Abby Wambach. Glennon Doyle Melton has reiterated for years her position affirming that same-sex marriage is not sinful and celebrating love in various forms. And because of all of that love, they are brave.” Melton’s coming out follows fellow inspirational author and friend Elizabeth Gilbert, of “Eat, Pray, Love” fame.It's only when client threaten to sue the bank or get the FCAC or CPA involved that they back down as they knew they are legally responsible for the making sure the check isn't cashed on the date before it was posted.CPA - The Canadian Payments Association Rule/Law: A1 General Rules Pertaining to Items Acceptable for Exchange, for the Purposes of Clearing and Settlement, which states that any bank that is a member of CPA cannot cash your cheque before the date indicated on it.So, if you've postdated a check, and the payee cashes the check, that's the date the funds will be taken from your account - - or if there are insufficient funds, then you'll be in hot soup.And no, it's no longer a defense to the principle amount and the INF fees to say, "Well, it was postdated!This is in accordance with the UCC (Uniform Commercial Code), which most states follow. Illinois Legal Aid | Can the Bank Pay a Post-dated Check before the Date on the Check?Even though my posting was referring to the law in Canada both by the Government and by the Canadian Payments Association which banks here in Canada must abide by, it turns out the post-dated rule that banks use here in Canada today is a rule that the banks themselves have implemented even though it goes against the law.The UCC does not regulate fees that banks charge customers for a notice of postdating or other services covered by the Act.You should check the young man’s account contract to see what it says about postdated checks and your fee for that service--your account contract with him can amend the UCC (I wonder if he learned that in school? He may owe the bank money for contacting you and using this service.Can you shed some light on this and give us the portion of the code to quote him?We were always under the assumption that a post dated check could clear when presented. Well, you can tell him that class is in session and you are the professor.