Re: Suppliers going bust and paying by cheque


"Ronald Raygun" <no.spam@xxxxxxxxxxxxxxxxxxxxx> wrote in message
news:OnrQe.98085$G8.48027@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> Tumbleweed wrote:
>
>>
>> "Graham Murray" <newspost@xxxxxxxxxxxxxx> wrote in message
>> news:87y86nbx7f.fsf@xxxxxxxxxxxxxxxxxxxxxxxx
>>> The normal advise when paying and ordering goods is to pay by credit
>>> card as the CC company is jointly liable if the supplier ceases
>>> trading and does not supply the goods ordered.
>>>
>>> However recent threads have shown that cheques paid into an account
>>> may be reversed at any future date.
>>
>> 'may' in the sense of 'might be if that cheque was discovered to be a
>> forgery', not in the sense of 'the original payee (if thats the right
>> term)
>
> No, I think you mean drawer.
>
>> can arbitrarily reverse the cheque' because that isnt possible.
>
> And even in the former sense it isn't really possible unless the payee
> is in on the scam, or at least this is what JB seems to be saying.
>
not sure JB has ever answered what happens if X forges a cheque on Y's
account and pays it to A, and it isnt noticed by Y for some time, lets say a
month or two, but enough for the cheque to have cleared. When it is
discovered to be a forgery (this might takea long court case I suppose) ,
then either the money is 'recalled' from A, and A is out of pocket, or it
isnt and B, or B's bank, is. (lets assume at this point that X is long gone)

Given that if you unwittingly buy a stolen car (or anything else) and the
theft is later discovered, the car is taken from you and you are left 'high
and dry',, I'd be inclined to go with the money being recalled from A as its
a parallel situation AFAICS.

--
Tumbleweed

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tumbleweednews at hotmail dot com


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