New answers tagged

4 votes

If one writes a check with no exact amount but with an upper bound by indicating a "Not To Exceed X USD" on the memo line, is it legally binding?

Assuming UCC § 3-407 applies in the the relevant jurisdiction: The recipient of an "incomplete instrument" (i.e., a check without the numbers filled in) cannot fill in those details without ...
user avatar
  • 685
3 votes

If one writes a check with no exact amount but with an upper bound by indicating a "Not To Exceed X USD" on the memo line, is it legally binding?

I submit that this might work at some California courts, but only to instruct the clerk how much you are willing to spend. Do not expect a bank to look at the memo line. This seems to be a way for ...
user avatar
  • 2,055

Top 50 recent answers are included