Cleveland, TN asked in Consumer Law and Banking for Tennessee

Q: So i was told I'd never get a lawyer to take my case.. I have more questions about banking though.. Like why does it say

Im liable for the money unless i truly believed the check was good? And i even offered to pay the bank back in installments if theyd draw up the paperwork, but he said no and now it's gonna be a lot more! Help!

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1 Lawyer Answer
Bruce Alexander Minnick
Bruce Alexander Minnick
  • Business Law Lawyer
  • Tallahassee, FL

A: I believe I already answered this question when originally posted; and since you still do not understand why you are liable for the money that the bank lost on the bad check you deposited allow me to try again to explain.

1. All bank customers who deposit checks that later bounce are liable to the bank for all the money the bank lost--plus some really hefty fees for depositing the bad check in the first place.

2. All depositors who swear on the Bible that they "really truly believed" the bad check was good and believed that it would not bounce are also liable to the bank for all the money the bank lost--plus some really hefty fees for depositing the bad check in the first place. Why?

3. Because (1) the bank lost money; (2) the person who deposited the bad check caused the loss; (3) the bank has no way to get the money from the third party; (4) the bank assumes that the depositor knows who the maker was; and (5) the person who deposited the bad check has several legal remedies against the maker that the bank does not have.

4. Please choose any of the above reasons and stop asking why.

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