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Posted: 12/13/2005 9:33:30 AM EDT
[Last Edit: 12/13/2005 9:33:55 AM EDT by TrooperCody]
I found a signed check on the street.

The person that the check is written out to (Let's call her "Sarah") signed this check on the back with her name and a note "For Deposit Only." From what I understand, unless she writes her account number on it as well, it is as good as cash.

Now obviously it would be immoral, but is it illegal for me to deposit this check in my bank account?

What say the AR15.com legal specialists?
Link Posted: 12/13/2005 9:39:17 AM EDT
You could deposit it to yourself .. But once it get reported or Voided there is a paper trail to you.
Link Posted: 12/13/2005 9:43:55 AM EDT
[Last Edit: 12/13/2005 9:45:07 AM EDT by mr_wilson]
Not illegal, but definately low class.

Found a credit card one day, I returned it via mail to the issuing bank sans use and got a very nice letter in response from the bank and an invitation for a Platinum Card from that very bank. Didn't accept it as I don't use credit cards, but it was still much better than a poke in the eye w/ a sharp stick, as the letter said some mighty nice things about my character. Made me feel good.

Perhaps you should do the same.

Mike

E.T.A - forgot to say I cut the card in half before I mailed it
Link Posted: 12/13/2005 12:41:25 PM EDT
Why did we call her Sarah?
Link Posted: 12/13/2005 4:31:39 PM EDT
[Last Edit: 12/13/2005 4:32:29 PM EDT by tdogg77]
If it says "for deposit only," that means to her account, no one else can use it. It's called qa conditional indorsement. If she just wrote her name, though, it would be payable to the bearer. AKA "good as cash."
Link Posted: 12/13/2005 4:52:58 PM EDT
It would be forgery of Endorsement, it will be charged back to your account. Did I mention I am a fraud investigator for a bank?
Link Posted: 12/19/2005 7:10:08 PM EDT

Originally Posted By armac:
It would be forgery of Endorsement, it will be charged back to your account. Did I mention I am a fraud investigator for a bank?



No it wouldn't. The indorsement wasn't forged, she just signed it and then lost it. The blame is on her at that point for losing a check she indorsed. But, if she signed it 'deposit only,' it can only be deposited to her acct. Congratulations on your career.
Link Posted: 12/20/2005 11:59:07 AM EDT

Originally Posted By tdogg77:

Originally Posted By armac:
It would be forgery of Endorsement, it will be charged back to your account. Did I mention I am a fraud investigator for a bank?



No it wouldn't. The indorsement wasn't forged, she just signed it and then lost it. The blame is on her at that point for losing a check she indorsed. But, if she signed it 'deposit only,' it can only be deposited to her acct. Congratulations on your career.



My understanding of "for deposit only" means it must be deposited, but not necessarily to her account, especially if she didn't put her number on it, but to someone's account.

Of course, if you try to deposit it to your account, I'd wager you're committing some kind of fraud, theft, etc. The maker sure didn't write you the check, and I'm pretty sure Sarah didn't drop it there thinking you'd be by to pick it up and how much easier that would be then just handing it to you.

But go ahead, try to deposit it.
Link Posted: 12/21/2005 6:16:49 AM EDT
"My understanding of "for deposit only" means it must be deposited, but not necessarily to her account, especially if she didn't put her number on it, but to someone's account."

I would strongly avoid that argument before a judge.
Unless you are in some way entitled to the funds, let it go.
A felony convivtion has far reaching 'side efects', and depending on the value of the check it could be a felony.
Link Posted: 12/21/2005 6:04:47 PM EDT

Originally Posted By brickeyee:
"My understanding of "for deposit only" means it must be deposited, but not necessarily to her account, especially if she didn't put her number on it, but to someone's account."

I would strongly avoid that argument before a judge.
Unless you are in some way entitled to the funds, let it go.
A felony convivtion has far reaching 'side efects', and depending on the value of the check it could be a felony.



Right. The point I was trying to get across is if the check is marked "for deposit only" the banker shouldn't cash it for you, but only take it as a deposit.
Link Posted: 12/21/2005 6:08:00 PM EDT
[Last Edit: 12/21/2005 6:09:19 PM EDT by twonami]
if "Sarah" had half a brain she cancelled that check. Rip it up, contact or mail it to her and go to sleep with a clear conscience.
Also kinda questioning why anyone would even be asking about this unless they are dishonest.
Link Posted: 12/21/2005 6:09:24 PM EDT
There should be some indication as to who issued the check and maybe even an address or company name.

Return it!
Link Posted: 1/1/2006 11:51:56 AM EDT
[Last Edit: 1/1/2006 11:53:39 AM EDT by wise_jake]

Originally Posted By twonami:
if "Sarah" had half a brain she cancelled that check. Rip it up, contact or mail it to her and go to sleep with a clear conscience.
Also kinda questioning why anyone would even be asking about this unless they are dishonest.


He may be asking because someone he knows did this or is contemplating doing this (a friend, cousin, nephew, etc) and he wanted them to see in writing that it was not cool.

I second everyone's motions who suggest returning it to the owner or, if "Sarah's" name is not on it, to the issuing financial institution.


ETA: Trooper, I hope that the "I found a signed check on the street" part was part of your hypothetical.
Link Posted: 1/14/2006 9:49:22 PM EDT
Don't know about your state, but in some like WA it is a crime to keep found property. The police here have actually arrested people for not turning in found property.
Link Posted: 1/15/2006 5:12:39 AM EDT
Not only illegal to cash the check, but immoral. Return the damn check to Sarah, the check's originator or the issueing bank.


MORALITY
Judgment to distinguish right and wrong
Vision to see the truth
Courage to act upon it
Dedication to that which is good
Integrity to stand by the good at any price
- Ayn Rand -

Link Posted: 1/20/2006 11:39:51 AM EDT
return it to "sarah" .........who knows you may get a reward
Link Posted: 1/20/2006 12:57:00 PM EDT

Originally Posted By bushmaster1:
return it to "sarah" .........who knows you may get a reward


And the reward might be a hummer!

If you're not married, don't pass this opportunity up.
Link Posted: 1/20/2006 5:39:06 PM EDT

Originally Posted By bushmaster1:
return it to "sarah" .........who knows you may get a reward



Whether it is theft or some type of fraud depends on the laws of the state that you are in. Each state has different laws, sometimes very different. What is legal in one state can be a felony in another. I would be wary of people that do not know the laws in your state giving legal opinions which are usually based on a guess or opinion.
Link Posted: 2/12/2006 10:56:18 PM EDT
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