Is postdating a check illegal in colorado
As a result, the transaction is not considered as issuance of a "bad check" since the creditor released the merchandise or performed the service in reliance of the check writer's promise to pay at some later date rather than in reliance of the check's negotiability.Therefore, the protections offered to creditors under the various "bad check" laws may not apply.Court shall also order restitution to plaintiff; defendant shall pay court costs if convicted. Issuing check for ,000 or more, maximum fine of ,000, imprisonment up to 10 years, or both, Issuing check for 0 or more, up to ,000, maximum fine of ,000, imprisonment up to 5 years, or both.
Consequently, it has generally been held by most states that the giving of a post-dated check does not constitute a present fraud nor is it within the scope of the bad check laws.There are several advantages to taking postdated checks in settlement of an account balance including these: 1.The fact that you are holding a check that will be presented to the bank for payment on a specific date places a burden on the debtor to have funds on deposit when the check is presented. In the event that the check is dishonored and the customer is sued, the existence of the check makes it harder for the customer to argue that the debt was never owed. Even if a post dated check is not honored when it is first presented, there is always the possibility that the check will clear at its second presentment, or that the creditor can tender the check to the debtor's bank on a collection basis.If check issued to city or town, amount due, fee plus protest, bank, and legal fees; if issued to state agency, amount due, fee plus protest and bank fees. Face amount of the check, attorney fees, court costs, costs of mailing a demand for payment, and damages in an amount equal to 0.00 or triple the amount of the check, whichever is greater, but not to exceed 0.00. When maker fails to tender amount due after written demand made by payee, payee may recover damages in an amount equal to 0 or treble amount of the amount for which the check, draft or order is drawn, whichever is greater, provided the amount is not greater than 0 over the due amount. Upon written demand from payee following conviction for passing a bad check and failure to make restitution, the payee upon obtaining civil judgment is entitled to an amount equal to 0 or treble the amount for which the check is drawn, whichever is greater, not to exceed by more than 0 the value of the check. In addition to other fines, issuer shall pay all reasonable court costs, not to exceed and if payment not made within 30 days, issuer shall pay amount of check and damages, of the lesser of 0 or treble the amount of the check. Lesser of amount of check or interest at 12%, and cost of collection not to exceed .If court action necessary after 15 days, lesser of reasonable attorneys' fees and treble face of check or 0. Check of 0 or more, fine of not less than 0 nor more than 00 or imprisonment up to 3 years, or both; under 0 check, fine depends on amount and offense.
In stop payment action, reimbursement for actual travel expenses to holder or agent for filing papers, and for traveling and providing witnesses to an from proceeding. Upon 30 days following certified written demand by payee to maker, the maker shall be liable to the payee for damages of double the amount owing on the check not to exceed $500 and service charge not to exceed $15. Giver of worthless check is liable for the amount of the check plus an amount equal to the greater of the following: (a) treble the amount of the check, but not exceeding the amount of the check by more than $500; or (b) $100. Drawer of dishonored check who fails to pay 30 days after written demand delivered by certified or registered mail is liable for damages in twice the amount owing but not less than $100 plus attorneys's fees and court costs.