Business Ethics

[moren017]

What is the name of your state (only U.S. law)? OR
I received a contract for a beach house rental and I agreed to send 2 separate checks, one for a refundable deposit and another for the full payment of the 2 nights. The owners and I made a verbal agreement for me to post date the check and they agreed to wait and cash the full payment check the day of arrival. I was notified by my bank that they had cashed the check 3 days before we had agreed, and to my surprise had accumulated 4 overdraft fees for items all ranging under $10, which adds up to $120 just in fees on top of the -$200 cashing the check did. I immediately called up the owners and they recognized that the agreement had been made but that they had forgotten the check was postdated (less than 3 days after we had spoken), even though the check (which we both have copies of) clearly states when it was to be cashed. Who is responsible? Because of the contract, I am fully obligated to pay at least 75% of the stay if I cancel now. So I have no choice but to enjoy my birthday under these lame circumstances. Does business ethics mean anything legally?

 

[Proserpina]

What is the name of your state (only U.S. law)? OR
I received a contract for a beach house rental and I agreed to send 2 separate checks, one for a refundable deposit and another for the full payment of the 2 nights. The owners and I made a verbal agreement for me to post date the check and they agreed to wait and cash the full payment check the day of arrival. I was notified by my bank that they had cashed the check 3 days before we had agreed, and to my surprise had accumulated 4 overdraft fees for items all ranging under $10, which adds up to $120 just in fees on top of the -$200 cashing the check did.

Did you notify the bank - in writing - beforehand that you had made out a post-dated check and that you requested they honor the posted date?

I immediately called up the owners and they recognized that the agreement had been made but that they had forgotten the check was postdated (less than 3 days after we had spoken), even though the check (which we both have copies of) clearly states when it was to be cashed. Who is responsible? Because of the contract, I am fully obligated to pay at least 75% of the stay if I cancel now. So I have no choice but to enjoy my birthday under these lame circumstances. Does business ethics mean anything legally?

If you hadn't informed the bank, in writing, that you had made out that post-dated check and that you wished them NOT to cash the check until that date...you're liable. Period.