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I got out my magnifying glass tonight - and pretty much determined (even though
I have a very bad copy) that the check had been deposited at the First National
Bank of Chicago (although that bank of course would not give me the name of the
payee on the account). The absence of an endorsement was guaranteed by that
bank. This deposit is somewhat odd since CSI is in Florida, and the payee of
the check is in New Jersey. I have forwarded this information to Mr. Pelletier,
since CSI, as the writer of the check, has the ability to start an inquiry (as
you noted - I don't). I hope he lets us know what he finds out. I agree that
it is perhaps unfortunate that this "undefined" situation made it to a public
list. But I suspect there will be a bright side. Namely that the person to
whose account the money was credited in error (intentional or unintentional)
will have the money taken out of his account - and the person who should have
received it will get it. Also - Mr. Pelletier - who paid the money - will get
all the credit he is due for being a "man of his word". Robyn
The Funkhousers wrote:
> FWIW
>
> As a retired attorney you may know that it is not necessary for a check to
> be endorsed in order to negotiate it. Most banks will readily deposit any
> check to either a checking or savings account that bears the name of the
> payee without that person's endorsement.
>
> As a third party to this transaction you may not have much standing with the
> bank involved, and therefore you may have difficulty in getting any
> meaningful information from the bank that originally negotiated it. (The
> identity of that bank should be ascertainable from the machine endorsement,
> of the earliest date, on the back of the copy you have.) Given the lack of
> a payee endorsement I would be more inclined to believe that the check was
> deposited, rather than stolen and then cashed. As a retired banker I know
> of no organization that would permit the cashing of any check without the
> endorsement of the payee.
>
> It's too bad that this really undefined situation made it to a public list.
>
> Richard D. Funkhouser
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