if a finance company sends me a negotible check (unsolicited) and i cash it am i liable to repay?

Question

no contract was sent with it or signed. just the agreement on the check itself.

Answer 1

Yes. By endorsing the check you are agreeing to the terms listed on the enclosed documents.

If you need more money than the check you received is issued for you can contact the finance company and they can check to see if you qualify for a larger amount. You generally will need to go into the branch and sign a contract at this point.

~Danke Schoen

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Answer 2

I am afraid so. By signing and cashing the check you are actually signing an agreement to pay the money back to the loan company just like a contract. I recommend you tear it up and throw it in the trash.

Answer 3

The agreement on the check itself is all that is necessary. By endorsing the check and cashing or depositing it, you are agreeing to their loan offer. So, yes, you are liable for repayment. It is a loan, not a gift.

Answer 4

Yes!