Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

uncollected funds

Read a random definition: grassum

A quick definition of uncollected funds:

Term: Uncollected Funds

Definition: Uncollected funds refer to money that has been credited to a bank account, such as a checking account, but has not yet been received from the person or organization who wrote the check or made the payment. This means that the money is not yet available for use or withdrawal. It's like having a gift card with money on it, but you can't use it until you actually have the card in your hand.

A more thorough explanation:

Definition: Uncollected funds refer to a credit given by a bank on a checking or deposit account based on a check or other payment that has not yet been received from the payor.

Example: Let's say you deposit a check for $500 into your checking account. The bank may credit your account with the $500 before the check clears. This means that the $500 is considered uncollected funds until the bank receives the payment from the payor.

Explanation: In this example, the bank has given you a credit of $500 based on the assumption that the check will clear. However, until the bank receives the payment from the payor, the $500 is considered uncollected funds. This means that the bank has not yet received the actual money and the credit is not yet considered a part of your available balance.

unclean-hands doctrine | unconditional

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
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
LSD+ is ad-free, with DMs, discounts, case briefs & more.