Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

pay any bank

Read a random definition: latent ambiguity

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
LSD+ is ad-free, with DMs, discounts, case briefs & more.