A bit confusing but what I mean by this is say, a guy writes a 1000 dollar check (made out to cash)to buy a quad. The guy receiving the check, instead of cashing it out, uses the original check to then go buy his own quad and so on.
In: Economics
this used to be common. I have a check that was written in 1812 it was a long list of signatures on it for everyone one that had it.
just a few weeks ago my wife and I wrote a big check. to a guy, it got handed off on a private debt to some one else who cashed it. the bank did call is and ask if it was legit a check from us before they deposited it.
Latest Answers