According to the United States Uniform Commerical Code, a bank is not obliged to pay a check more than six months old.
Here’s the full text of the guideline: A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than six months after its date, but it may charge its customer’s account for a payment made thereafter in good faith. If you have a stale check outstanding, contact your bank to determine their policy. I’m not sure what happened with the woman at my bank today.
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.
It turns out that a bank can pay or return an old check as it sees fit.
Instruments coming within several descriptions in Schedule I u/s 6: Where instrument comes under two or more descriptions under Schedule I, stamp duty shall be paid of highest value prescribed for the purpose.
Amount of duty: As per this section where an instrument comes within the provisions of two or more Articles in the Schedule I, the instrument is to be charged with the highest of the duties leviable when such duties are different.
He could admit the document in evidence if eleven times the stamp duty was paid.
If the document was not admitted in evidence then S.Bill: Drawer discharges if payee fails to present it at due date or commits default.Where local government exempts: Several instruments used in single transaction or sale, mortgage, or settlement u/s 4: Where more instruments are used in completion of single transaction, stamp duty shall be paid on principal instrument.In other words: the bank isn’t required to pay a check more than six months old. When I became impatient and left, the manager was helping her.It sounded as if they were going to waive the overdraft fee, but there was nothing they could do about the fact that the woman was still thirty or forty dollars short in her account.Bill: There are always three parties in Bill of Exchange, like drawer (one who signs a Bill of Exchange as the maker), drawee (the person to whom a Bill of Exchange is addressed), and payee (a person to whom a Bill of Exchange is payable).