OT question about a bank check

[scrappy2.0]

My best friend sold his car to someone today and the car had problems on their drive home. The woman called up my friend and said she's putting a hold on the check through BAC. My friend knew nothing of any problem and gave the lady two test drives before she bought it. Does she have the right to put a hold on it and can she do that? He did give her the title of course and bill of sale but she took ownership of car by driving away with it no?? Can you put a hold or stop payment on a cashiers check for that???

 

[Strummer]

Assuming the "bank check" is a "cashier's check," then the UCC answer is "no." First, there is no such thing as a payor's "hold," as far as I know, on a negotiated check. Second, to the extent she attempts a "stop payment," the UCC says that she cannot do that, as a cashier's check is the obligation of the bank, not hers. Assuming the state in question has adopted the UCC, your friend should be able to deposit the check and have it clear. Her remedy is to sue him for something or other.

Let me know how it turns out.

 

[scrappy2.0]

Assuming the "bank check" is a "cashier's check," then the UCC answer is "no." First, there is no such thing as a payor's "hold," as far as I know, on a negotiated check. Second, to the extent she attempts a "stop payment," the UCC says that she cannot do that, as a cashier's check is the obligation of the bank, not hers. Assuming the state in question has adopted the UCC, your friend should be able to deposit the check and have it clear. Her remedy is to sue him for something or other.

Let me know how it turns out.

You were right, it cashed.

 

[J-dog]

So he cashed it & that's it? Let the buyer beware?

 

[Husky25]

My best friend sold his car to someone today and the car had problems on their drive home. The woman called up my friend and said she's putting a hold on the check through BAC. My friend knew nothing of any problem and gave the lady two test drives before she bought it. Does she have the right to put a hold on it and can she do that? He did give her the title of course and bill of sale but she took ownership of car by driving away with it no?? Can you put a hold or stop payment on a cashiers check for that???

No. That is a portion of the security that a bank check provides. There is not payor hold on a bank check, because the payor is the bank, not the person transferring the funds. The other guarantee is that a bank check will always clear because payment has already been tendered and those funds are already in reserve.

 

[8893]

Damn, wish I knew about this before I paid for that love potion with a bank check.

 

[Waquoit]

Damn, wish I knew about this before I paid for that love potion with a bank check.

That's what you get for cheaping out and getting #8.

 

[JCSuperstar]

According to the other thread the bank check is nothing but a promissory note that the bank has issued against your children's unborn children's ability to train their H1B visa replacements 75 years from now. The Rothschild family will take your friend's check and loan the non fractional reserve to a giant metallic squid monster until such time as Ron Paul mounts a white stallion and slays the beast with a lance forged of pure gold, the gold will then be melted down and used to either back or covert some kind of currency and/or money, but I'm unclear on the last part because the acid was really kicking in by then.

 

[elduderino]

That's what you get for cheaping out and getting #8.

This joke is so painfully awful it had to get 'liked.'

 

[8893]

This joke is so painfully awful it had to get 'liked.'

I closed my eyes, I held my nose...I gave a "like."

 

[scrappy2.0]

So he cashed it & that's it? Let the buyer beware?

It's a tough thing on both sides I guess. He has offered to pay for half of the repairs with an invoice which ultimately I think is fair. If someone comes over to your house--checks out your car or whatever has the ability to take it to a garage and passes and understands that any used vehicle has risk--then I think she should not have made that threat or action to cancel the check. I understand her point of view but I think my friends offer of paying half was a much more reasonable outcome than buying a car--driving it half way home--having a problem and than saying well that was way to fast--yoyu musyve known about the problem--Im not paying when she is 20 miles from your home with the title and car. I guess the morale to the story is pay to haev a car checked over before you buy it---Im sure most sellers have no idea if there is imminent problems and most buyers are probably guessing the same when they buy.

 

[J-dog]

It's a tough thing on both sides I guess. He has offered to pay for half of the repairs with an invoice which ultimately I think is fair. If someone comes over to your house--checks out your car or whatever has the ability to take it to a garage and passes and understands that any used vehicle has risk--then I think she should not have made that threat or action to cancel the check. I understand her point of view but I think my friends offer of paying half was a much more reasonable outcome than buying a car--driving it half way home--having a problem and than saying well that was way to fast--yoyu musyve known about the problem--Im not paying when she is 20 miles from your home with the title and car. I guess the morale to the story is pay to haev a car checked over before you buy it---Im sure most sellers have no idea if there is imminent problems and most buyers are probably guessing the same when they buy.

While a Private deal is usually sold "as is", the timing of this rough. Purchasing a used car & having a problem on the ride home would be tough for any buyer to deal with… I think the Seller should pay for the repairs… Just out of a sense of fairness...

 

[Husky25]

While a Private deal is usually sold "as is", the timing of this rough. Purchasing a used car & having a problem on the ride home would be tough for any buyer to deal with… I think the Seller should pay for the repairs… Just out of a sense of fairness...

It's a tough thing on both sides I guess. He has offered to pay for half of the repairs with an invoice which ultimately I think is fair. If someone comes over to your house--checks out your car or whatever has the ability to take it to a garage and passes and understands that any used vehicle has risk--then I think she should not have made that threat or action to cancel the check. I understand her point of view but I think my friends offer of paying half was a much more reasonable outcome than buying a car--driving it half way home--having a problem and than saying well that was way to fast--yoyu musyve known about the problem--Im not paying when she is 20 miles from your home with the title and car. I guess the morale to the story is pay to haev a car checked over before you buy it---Im sure most sellers have no idea if there is imminent problems and most buyers are probably guessing the same when they buy.

I don't think it's tough at all. The buyer does not have specific warranty that a car is reasonably free of defect in a private sale like if they would if the seller were a dealer, BUT you said the buyer had ample opportunity to gain such assurances by taking the car to an independent mechanic. If she didn't, it's on her for doing proper due diligence.

Offering to pay for half the repairs is more than fair, bordering on foolish. What happens if it ends up costing more than the purchase price? There goes your profit. What if the women is a schyster?

 

[tdrink]

Caveat emptor.

If you want a waranty buy a new car. If you want to try to save some dollars then, as my dad would always say, you pays your money and you takes your chances.

He's 73 and has never bought a new car in his life.

 

[Kitaman]

I'm not sure about 'as is' car sales but I've seen enough Judy, Mathis, and Alex to know you (i.e. buyer) can get burned. But its not unreasonable to expect the car to take you a few miles home without major problems (not sure what the problem she is describing). She must prove that she was misled, or he knew and didn't tell her. Wow I feel like I stayed at a Holiday Inn.

Anyway I smell a new episode coming and maybe your friend will have his 15 minutes of fame.

 

[dogpause]

I always learn something here. Thanks.

 

[Chin Diesel]

Damn, wish I knew about this before I paid for that love potion with a bank check.

That's what you get for cheaping out and getting #8.

This joke is so painfully awful it had to get 'liked.'

The song is Love Potion #9. I know it's Friday night but C'mon guys get the jokes right. UConn won't ever get in a major conference with jokes like this.

 

[J-dog]

The song is Love Potion #9. I know it's Friday night but C'mon guys get the jokes right. UConn won't ever get in a major conference with jokes like this.

that was the joke...

 

[BigErnMcCracken]

The song is Love Potion #9. I know it's Friday night but C'mon guys get the jokes right. UConn won't ever get in a major conference with jokes like this.

That sound you just heard was the joke sailing over your head and shattering against the wall.

 

[elduderino]

The song is Love Potion #9. I know it's Friday night but C'mon guys get the jokes right. UConn won't ever get in a major conference with jokes like this.

I was actually thinking of that garbage Sandra B movie where a guy supposedly has a reverse g_ngb_ng in a sorority house and yet there are zero nips in the flick. Still burns my A--.

 

[Da_Aisijimo_Gou]

I was actually thinking of that garbage Sandra B movie where a guy supposedly has a reverse g_ngb_ng in a sorority house and yet there are zero nips in the flick. Still burns my A--.

Google Translate didn't help with the cited comment, but the car purchaser really can pound sand. No assurances guarantee the buyer didn't puck up the car within 5 minutes of driving. The seller's offer to pick up 1/2 of any reasonable repair as long as a receipt is provided is quite reasonable to borderline generous.

Used cars eventually die, ship happens, and the buyer just bought some unexpected crap. She's delusional, and the seller's very likely not at fault for anything other than having his former used car experience an unexpected, untimely mechanical problem. Pound sand buyer!