Category Checks
Handling Less Than “Full Payment” Checks in New York
by Bryan Lane Berson, Esq. Suppose a customer owes a vendor $75,000, but he gives a check for $50,000 and the memorandum says “full payment.” The “full payment” notation is a “restrictive endorsement.” Perhaps the customer is playing a stealthy trick. Perhaps he genuinely believes he owes $50,000. Regardless, the check is $25,000 short, and […]
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