3 ms·
Isn't the whole point of the UCC to remove all sorts of litigious details in contract situations like making payments? eg, If I agree to pay my babysitter $50
by oasisbob 6y ago
Isn't the whole point of the UCC to remove all sorts of litigious details in contract situations like making payments?
eg, If I agree to pay my babysitter $50 and write an American-style check (aka bank draft), me and the babysitter don't need to negotiate the finer details of that payment method.
- salawat 6y agoYes. However, you have the capability to void and recover the sums represented by that cheque. It's built into the system in that sense. This is why most debt servicers implement different flows for early payments. You need an explicit indication from the payer they intended to make that extra payment. It may not seem like as big a thing when you're talking small-claims court amounts of money, but once you hit the bigger tiers of financial transaction, this is exactly why people are dedicated toward ensuring all the i's are dotted and t's crossed in order to ensure payments in the right amount end up in the right places in the right amounts.