Having an understanding of endorsements and handling checks is crucial to making a sound check cashing decision. A check is a unique type of contract where ownership can be transferred by way of the endorsement on the back of the item. This webinar will look at who has the right to endorse the back of the check and where is proper endorsement placement. We will also look at what happens if a check is not endorsed properly. Many “tricky” issues will be discussed, such as deceased customers, business accounts, endorsements for minors, income tax check endorsements, trustee endorsements and endorsements by powers of attorney. Learn the safe way to handle checks and be sure that you and your financial institution can be protected from loss on the negotiable instruments. You will not want to miss this webinar! The information provided will produce confidence and a thorough understanding of the legal issues of endorsements.
 
What You Will Learn:

• Who is the person entitled to endorse the check
• What is a valid endorsement
• Bearer verses Order Checks
• Who is the holder of a check, and what is the holder in due course
• Ambiguous endorsements
• Endorsements for minors, deceased parties, business accounts
• Witnessed endorsements
• Check cashing issues for business accounts
• Endorsements on income tax checks
• Trustee and power of attorney endorsements
• The simplest rule about checks that will save your financial institutions thousands of dollars
• The connections between checks and account agreements if you have not signed the signature card you cannot get the money
• Postdated, stale dated, erasures, alterations and more lessons we need to learn
• Why your institution needs to know about the negligence rule and the bank statements rule
• Should we check endorsements and send them back as “missing”
• Treasury checks, postal money orders and other special checks
• Why we absolutely do not give cash back, cash or deposit into personal accounts checks made payable to a business