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postdated check |
Also found in: Wikipedia | 0.02 sec. |
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postdated check n. a check delivered now with a written date in the future, so that it cannot be cashed until that date. The danger to the recipient is that such a check is legally only a promissory note due at the later date, and if the account is closed or short when the check is presented at the bank, the payee has no rights to demand payment by the bank or claim that the delivery of a bad check was criminal. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The teacher holds a parent meeting at the beginning of the year and collects postdated checks from each family. We also ask arrears clients for a series of postdated checks (for any amounts) for as much as a year in advance, so the past-due balances can be settled gradually. Groups have three different payment options: a purchase order where they are billed later, a postdated check or a major credit card. |
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