What happens if you cash a check for zero dollars? For an amount including a fraction of a cent? How about for a negative amount?
What happens if you cash a check for zero dollars? For an amount including a fraction of a cent? How about for a negative amount?
See, this is why I’m glad I live in a world that’s structured around facilitating intent instead of worshipping at the altar of logical paradigm.
Isn’t that the point of PhD programs?
A depressing number of them, fo’ sho.
But what if my intent is to give you a check for a negative amount as a bill of sorts. Say you owe me 10 dollars. I write you a check for negative 10 dollars. You deposit the check into your bank account, deducting the 10 dollars from your account. When the check clears, the 10 dollars is in my account.
Makes perfect sense to me. I suspect that a bank just wouldn’t accept the check, though.
works especially well if the person who owes you ten dollars doesnt *have* a checking account, or at least any checks for some reason. maybe different banks have different policies, or maybe they would give you a call. or for that matter, perhaps, since the person cashing a negative check obviously knows that its negative, and is still bringing it to the bank, it would work.
however, where this plan is flawed is on a deposit statement….
Check 1: $100.00
Check 2: $80.00
Check 3:
sorry, mouse issues….. let me continue:
Check 1: $100.00
Check 2: $80.00
Check 3: -$10.00
Total: $170.00
would they really know whats going on, it then they try to deduct it from your checking account, plus you’ve deducted it on your deposit slip. confusing? certainly for the average person/american.