I have a check made out to me and another person. If we have both endorsed it, will I be able to then deposit it into my account? We do not have a joint account and do not want to open one.
2007-10-30 11:29:38 · 4 answers · asked by tasambi 2 in Business & Finance ➔ Personal Finance
yes!!!
2007-10-31 14:13:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the check is made out to two people and BOTH have endorsed it, it ins now a BEARER instrument. Legally ANYONE in possession of the check can CASH it. Very few banks will accept a check unless it is presented by one on the people to whom it was made out.
2007-10-30 13:56:58 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
If both parties on the check have signed it, then it is a negotiable instrument. You can deposit it into your bank account or present it to the bank it is drawn on and receive cash.
2007-10-30 11:34:28 · answer #3 · answered by The Professor 5 · 1⤊ 0⤋
YES you can do whatever you please with it once both parties have signed it. so can anyone that happens along, so don't lose it.
2007-10-30 11:34:19 · answer #4 · answered by ribuckeye 5 · 1⤊ 0⤋