HAOLE Posted June 19, 2009 Report Share Posted June 19, 2009 Like I asked before, were services already rendered? It does not matter. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 19, 2009 Report Share Posted June 19, 2009 It does not matter. Yes, actually it does. Just like one management company makes a check out to me and to my one of my partners. Now if my partner and I had agreed to split that money, or he had done work on that project and that money was owed to him, if I cashed the check without him knowing with just me signing it, that would be fraud. If the management company just puts his name on there as well because he is the other "executive", then there is a good chance, with no contract in agreement, that his right to that money would be waived should it end up in court. I deposit many checks directly into my account with multiple names on it all the time. The reason I am not worried? Because the management company feels that they have to put multiple names on the check, when the other person has no right to the money contractually. Quote Link to comment Share on other sites More sharing options...
99ta Posted June 19, 2009 Report Share Posted June 19, 2009 I've had lots of insurance checks over the years, but never one made payable to me and a repair shop. Thats just retarded. I've also always just cashed the checks and bought a nice toy since I never have a car I care about. The last example I just did last night. Check for $2500 so I blew the thing 2 camera lenses. did you have a lien on the vehicle. by law the insurance companies have to protect the lein holder. Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 19, 2009 Report Share Posted June 19, 2009 Yes, actually it does. Just like one management company makes a check out to me and to my one of my partners. Now if my partner and I had agreed to split that money, or he had done work on that project and that money was owed to him, if I cashed the check without him knowing with just me signing it, that would be fraud. If the management company just puts his name on there as well because he is the other "executive", then there is a good chance, with no contract in agreement, that his right to that money would be waived should it end up in court. I deposit many checks directly into my account with multiple names on it all the time. The reason I am not worried? Because the management company feels that they have to put multiple names on the check, when the other person has no right to the money contractually. You are talking about two different issues. If the check say "SamZMan and Toyota Direct" Both signers are needed for that instrument. If the check says SamZman, Toyota Direct either may cash it. This is not my opinion, this is banking policy and law. If you don't believe me go to your bank and ask the bank manager. This is a similar concept when you have an account with multiple signers. If the account say "And" you must have two signers. if it just has "," either party signing will be fine. Just because you have not had a problem yet, does not mean it is correct to do it that way. Quote Link to comment Share on other sites More sharing options...
Tractor Posted June 19, 2009 Report Share Posted June 19, 2009 You are talking about two different issues. If the check say "SamZMan and Toyota Direct" Both signers are needed for that instrument. If the check says SamZman, Toyota Direct either may cash it. This is not my opinion, this is banking policy and law. If you don't believe me go to your bank and ask the bank manager. This is correct. My wife confirmed it as banking law since she is a bank manager. If the "AND" is on there then the check will require both parties signatures. Now some tellers might miss it and cash it or might let it go, but if you put it in the ATM then its gonna get caught almost 100% because all those checks get reviewed by a department and you'll end up getting debited and cause some big issues for yourself. Quote Link to comment Share on other sites More sharing options...
Sam1647545489 Posted June 19, 2009 Report Share Posted June 19, 2009 Not true. If it is made out to two parties if must be endorsed by both. Do they slip through the bank? sure. I hope you don't get caught. They made the check to both of us. I asked if I needed them to sign it and the insurance guy said I can cash it or give the check to Bob Mcdorman for the repairs. I just cashed it and get it fixed cheaper. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 19, 2009 Report Share Posted June 19, 2009 This is correct. My wife confirmed it as banking law since she is a bank manager. If the "AND" is on there then the check will require both parties signatures. Now some tellers might miss it and cash it or might let it go, but if you put it in the ATM then its gonna get caught almost 100% because all those checks get reviewed by a department and you'll end up getting debited and cause some big issues for yourself. I've never had a problem with it and a very high official at my regional bank has approved it on my account to cash checks with my name listed first with an "and". Look, if he has no agreement with Toyota Direct, they have no idea there is a check floating with their name on it. The insurance company would be the one to file a dispute, which they wouldn't. Getting debited and cause big issues? Any bank I have been to they say " I can try to deposit it but the check may be disputed and returned". A check made out to one of my Chase accounts was rejected by a reviewer and the check was merely returned. No "issues" no "debits" Quote Link to comment Share on other sites More sharing options...
LJ Posted June 19, 2009 Report Share Posted June 19, 2009 This is not my opinion, this is banking policy and law. If you don't believe me go to your bank and ask the bank manager. An executive at my large regional bank has approved it. As in, someone who tells a branch manager when they can shit. Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 19, 2009 Report Share Posted June 19, 2009 Look, if he has no agreement with Toyota Direct, they have no idea there is a check floating with their name on it. The insurance company would be the one to file a dispute, which they wouldn't. At some point they will get the W2. Quote Link to comment Share on other sites More sharing options...
LJ Posted June 19, 2009 Report Share Posted June 19, 2009 At some point they will get the W2. Has never happened to my partner, has always gone to first listed at address delivered to. Quote Link to comment Share on other sites More sharing options...
HAOLE Posted June 19, 2009 Report Share Posted June 19, 2009 An executive at my large regional bank has approved it. As in, someone who tells a branch manager when they can shit. Well maybe your special, and are exempt from federal banking laws. lol My guess is the others that are on the checks have a POA on file allowing you to do that. Quote Link to comment Share on other sites More sharing options...
Tractor Posted June 19, 2009 Report Share Posted June 19, 2009 An executive at my large regional bank has approved it. As in, someone who tells a branch manager when they can shit. Correct my wife has some people who by order of higher powers are allowed to cash such checks. If they don't have that approval then it doesn't get done and even then she usually covers her self by making the next guy up the ladder sign off too. Quote Link to comment Share on other sites More sharing options...
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