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LSDefine

Simple English definitions for legal terms

pay any bank

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A quick definition of pay any bank:

Term: PAY ANY BANK

Definition: Pay any bank is a special type of endorsement on a check that allows only banks to receive the payment until the check is returned to the person who wrote it or endorsed by a bank to someone who is not a bank. This endorsement is governed by the Uniform Commercial Code (UCC) and is used to ensure that the check is processed efficiently and securely.

A more thorough explanation:

Definition: Pay any bank is a type of draft endorsement that allows only banks to acquire the rights of a holder until the draft is either returned to the customer who initiated the collection or specially endorsed by a bank to a non-bank person. This is governed by the Uniform Commercial Code (UCC) § 4-201(b).

Example: Let's say you have a check for $500 that you want to deposit into your bank account. You endorse the check with "Pay Any Bank" and deposit it into your account. The bank can then process the check and credit the funds to your account. However, if the check is returned for any reason, only a bank can acquire the rights to the check until it is returned to you or specially endorsed to a non-bank person.

Explanation: The example illustrates how a "Pay Any Bank" endorsement works in practice. By endorsing the check with "Pay Any Bank," the customer is allowing any bank to process the check and credit the funds to their account. However, if the check is returned for any reason, only a bank can acquire the rights to the check until it is returned to the customer or specially endorsed to a non-bank person. This ensures that the check is handled securely and only by authorized parties.

payable date | payback method

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concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
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No wave, so sad.
WorthlessAttractiveZombie
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What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
WorthlessAttractiveZombie
14:35
@EvolBunny: I will take the odds of 4, very promising
14:38
I'm too drunk to taste this chicken
Dkk
14:38
Lol, I suck I guess. @babycat
14:40
suck what? (:
Dkk
14:42
suck at predicting
14:43
boooooo
1a2b3c4d26z
14:45
hi guys
1a2b3c4d26z
14:45
how is everyone doing this fine friday
1a2b3c4d26z
14:46
Tonight im going to go for a run and lift some weights and then eat some dinner (probably a burrito) and then I'm going to watch a scary movie with my girlfriend (probably Longlegs). I'm so excited :)
1a2b3c4d26z
14:46
What is everyone else doing tonight
1a2b3c4d26z
14:47
Besides YM of course
14:47
Yoooo I’m a lifter too
14:47
I'm all good, I'm tipsy in Zanzibar finishing an app and laughing my ass off to this:
babycat
14:48
renard what are you drinking?
BulbasaurNoLikeCardio
14:50
Feeling like sad drinking tonight, wife accidentally tossed out my truck keys and those are expensive as fuck to replace. The crappiest part is that the key chain had the "remove before flight" tab from my first aircraft's rocket pods overseas from 6 years ago. Then find out people fucked around and back dated reports at work making me look like a shit bag so I am working later tonight and missing range time which is my weekly relax/me time. Add in my sleep meds stopped working, so I am thinking vodka (so I stay skinny and hot) and pizza by the fireplace kind of friday.
1a2b3c4d26z
14:51
Renard if you're not drinking margs Im gonna throw hands
14:51
Was at a restaurant and they decided to have me try something called "Double Kick" free of charge, it's like a sugar cane liquor with pineapple flavor
1a2b3c4d26z
14:51
missing range time :(
1a2b3c4d26z
14:52
That sounds good renard but unfortunately I'll still have to throw hands
Tonight I’m Having a date with this guy who asked me out couple times
BulbasaurNoLikeCardio
14:54
What made you give in and go out after he asked a couple times?
Other failed dates
babycat
14:55
That’ll do it
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