I put a car on craigslist to sell As Is. An 18 ys old girl came by to see it. She drove it and said she wanted to buy it. We negotiated the price, she gave me a cashiers check from her bank, and then signed the title over to her name. The next day asked if she could "sell the car back to me" because she thought she found a better car... to which I said no, as I am not interested in buying the car back. Later, her father called me complaining about mechanical and cosmetic problems with the car, claiming that the sale was not valid. I explained to him that I gave her all of the receipts for the work done on the car, and that she both saw and drove the car. He still claimed legal action. Furthermore, he said that if I didn't give his daughter's money back he would cancel the check. I am confused b'cause I gave her all the details she asked about. I'm still curious about the check. I really don't want the to turn this into a legal thing, but I'm prepared to do so needed. ADVICE PLEASE!!
2006-08-21 19:45:12 · 12 answers · asked by Odyssey1111 2 in Politics & Government ➔ Law Enforcement & Police
A cashiers check does not guarantee that it is good. (This is how the Nigerian scams work, they give you a bad cashiers check, you send them money, and then the check is no good)
Also, you are fighting a losing battle. Generally any contract has 3 days to cancel. So unless she has caused major wear and tear on the car, save yourself the hassle, take the car back, give them the check, and resell it. Next time, get cash, or follow them to the bank and get cash. You can reassign the title. I know this is a hassle, but it is not worth fighting, and they did contact you promptly. Sorry it is a hassle, but things will work out.
2006-08-21 19:54:01 · answer #1 · answered by Bear 4 · 3⤊ 2⤋
In order for someone (buyer) to get a cashier's check, they must go their bank and request it. When the check is issued (let's say for $5000) the funds are immediately debited (deducted) from that same person's bank account. It's the same as a cash withdrawal, but in the form of a check. When that same person gives the check to you, the money (as if it were cash) is now in your hands. It can't be cancelled by the buyer.
At this point the buyer's only recourse is (1) to ask you for the money back and/or change the terms of the business transaction, or (2) they can consider a civil action.
But considering or filing a civil action doesn't mean winning a civil action.
If you conducted your business on the up and up, disclosed all you are required to, and did not misrepresent any of the important matters concerning the car, then you stand a much better chance of prevailing in your disagreement with them.
At this point in time you should review the entire transaction in your mind, take a good objective look at everything you did, how you represented the qualities of the car, whether you withheld anything important.....and actually, but yourself in the position of the buyer for the 'same' car, and ask yourself if you should be satisfied with the deal as it was presented. If not, you might opt for a very noble and consumer friendly thing to do and work out something with the other people.
If they however just changed their mind simply because they found a better deal elsewhere, then that shouldn't be your problem. It's theirs.
This is something only you would know.
2006-08-22 03:09:17 · answer #2 · answered by nothing 6 · 1⤊ 0⤋
The one thing being guaranteed by a cashier's check is that it is funded and no bank will issue it otherwise. In view of this, it is secured and will not bounce for reason of insufficient fund or what we termed "DAIF" (drawn against insufficient fund) which is one of the common reasons for returned checks other than technical ones (i.e., incomplete signatories, etc.)
However, cashier's check or manager's check (MC's) can also be canceled at any time by the issuer, a "stop payment order" can be requested for various reasons. I've done it plenty of times. Hence, holding an MC or a cashier's check is never a fool-proof guarantee that payment will be good upon presentation.
Note: to those who say that CC cannot be cancelled, what do you think is the remedy for lost or stolen CC's?
2006-08-22 02:36:45 · answer #3 · answered by katrina_ponti 6 · 0⤊ 0⤋
For specific legal advice, you need to talk to a licensed attorney. Someone providing legal advice (beyond just general information) without a license is engaged in authorized practice of law.
That being said, here's some general information about cashiers checks. A cashier's check is like a money order, in that the funds used to secure it are provided when the check is issues, rather than being accessed when it is cashed. As such, the value of the check is normally guaranteed by the bank that issues it.
According to Wikipedia (link below) cashier's checks are recognized as "guaranteed funds" under federal regulations, and amounts under $5000 are treated as cash when deposited.
So, as long as the check was properly issued by the bank, and as long as the bank remains in business, it should be fine.
{insert again standard disclaimer about seeing a licensed attorney}
2006-08-21 19:50:32 · answer #4 · answered by coragryph 7 · 1⤊ 0⤋
NO...Her father is only trying to scare you to giving the check back. Unless he really is stupid and thinks that he can cancel a cashier's check. I work for a bank, a cashiers check is like a money order. It has to be paid with cash in order to get a cashiers check for it. He cannot cancel it. Hopefully you made a contract and had her sign it saying that you sold it to her "as is". Good Luck!
2006-08-21 19:54:27 · answer #5 · answered by cc_12501 2 · 2⤊ 0⤋
This Site Might Help You.
RE:
can a cashiers check bounce?
I put a car on craigslist to sell As Is. An 18 ys old girl came by to see it. She drove it and said she wanted to buy it. We negotiated the price, she gave me a cashiers check from her bank, and then signed the title over to her name. The next day asked if she could "sell the car back to...
2015-08-06 20:32:26 · answer #6 · answered by Anonymous · 0⤊ 0⤋
A cashiers check is as good as cash. So no it won't bounce.
2006-08-22 00:39:37 · answer #7 · answered by Anne M 4 · 0⤊ 0⤋
Sounds like a legal transaction to me. As far as I understand, the cashiers check is secured funding and cannot be easily cancelled. I'd take it to the bank and get the funds, or at least call them to make sure.
2006-08-21 19:52:33 · answer #8 · answered by Anonymous · 1⤊ 0⤋
cashiers check will never bounce, cash or deposit the check asap, then talk to a lawyer.
2006-08-22 02:49:07 · answer #9 · answered by mike g 5 · 0⤊ 0⤋
Cash the check right away! A sale is a sale if it wasn't done fraudulently. As long as she wasn't under age, then the sale is legal.
2006-08-25 10:14:18 · answer #10 · answered by jmiller 5 · 0⤊ 0⤋