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When is a cheque "paid"?
Steve059
Posts: 2,686 Forumite
When is a payment by cheque legally paid?
When the cheque is drawn? This has disadvantages for the payee, especially if the cheque is posted to them.
When the cheque is cashed? This has disadvantages for the payer, especially if the payee doesn't cash the cheque until after a payment deadline.
When the cheque is drawn? This has disadvantages for the payee, especially if the cheque is posted to them.
When the cheque is cashed? This has disadvantages for the payer, especially if the payee doesn't cash the cheque until after a payment deadline.
If you fold it in half, will an Audi A4 fit in a Citroen C5? 
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When the recipient receives the cleared funds into their account is the only time the debt is discharged. If they delay in paying it to their bank account and this works against you - pay them by transfer or pay earlier.0
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When the recipient receives the cleared funds into their account is the only time the debt is discharged. If they delay in paying it to their bank account and this works against you - pay them by transfer or pay earlier.
It looks like I need to pay this particular payee by return of post and by Recorded Delivery in future, so that any delay would be excessive and obvious.If you fold it in half, will an Audi A4 fit in a Citroen C5?
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