Bank cashed check w/stop payment

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maggie2009

New Member
State: CT

In January, I wrote a check as a loan to someone, to be repaid within 90 days. they said they needed it urgently to pay a debt due by 2/1. The check was not cashed, so I put a stop payment on it a week after the recipient stated they needed it, assuming that they somehow got the cash themselves.

The following week, they cashed the check, and the bank did not see the stop payment. The money came out of my account, and when I called the bank they put the money back. I did not know if the bank 'ate' it, or recovered the money.

I recently recieved the payment from the recipient for payment in full. Therefore, I'm assuming the bank 'ate' the money to pay me back for their mistake.

Therefore, should I still be able to cash the check? It was not an intentional gain, so I'm thinking of cashing it.
 
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It was not an intentional gain
That is not the issue.

Do you wish to be morally responsible or not? The "responsible" thing would be to return the payment to the bank. Just don't expect an overwhelming "Thank you". :>)
 
That IS the issue. I am not concerned with the ethics standpoint, so please keep your 'moral concerns' separate. Don't banks have insurance for things like this?
 
I am not concerned with the ethics standpoint
Such a sorrowful statement!

No banks do NOT have insurance for such things. They are a for profit business just like any other business. You are "stealing" from the bank by knowingly cashing the check which does indeed create an unlawful gain for you.

It is because of this type of attitude that businesses take huge losses which is in turn creates higher prices and fees which the "good citizens" must pay for.
 
well, then sir/ma'am, I bow to your self righteousness. have a nice day.

be sure to give a :no: on your way out.

if anyone has any legal advice, it would be greatly appreciated. thank you.
 
I'll give two to one odds that she still cashes the check!

:D
 
Therefore, should I still be able to cash the check?
if anyone has any legal advice, it would be greatly appreciated. thank you.

Maggie, do you really think anyone on a legal forum is going to give you legal advice to keep money that does not belong to you? I was trying to be somewhat polite and have tongue in cheek humor with you, yet apparently you just don't get it.
 
If your question is "should you still be able to cash it", the answer is yes, it is possible for you to cash it, unless the payor has stopped payment on it.

If your question is "should you cash it", that's an ethical question and we've already seen where that gets us. :)

If your question is "what will happen if I cash it", the answer is that at some point, you might have to pay it back. The bank has covered the cheque you stopped payment on. So you're not out any money. But it's not free money - it's a loss to the bank. They might seek to recover it from the guy you wrote the cheque to, who would then be out that amount (because he already paid you back) and might then come after you. Or it might seek to recover from you directly (possibly under the principles of unjust enrichment).
 
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