I'm just curious...if someone writes me a check, and i cash it....but the other party doesn't have enough funds to cover the amount...who gets screwed? Do i still get the money, and the bank goes after the person?
Or does the bank say, sorry, there's not enough funds...you have to go get a new check?
I ask because I am figuring out how to get a refund from this guy (whom I've met in person, and know where he lives) and he said he will give me a check. What happens if this check bounces? Do I have to seek legal recourse, or do i still get the money and my bank goes after him?
Just trying to understand the situation
Or does the bank say, sorry, there's not enough funds...you have to go get a new check?
I ask because I am figuring out how to get a refund from this guy (whom I've met in person, and know where he lives) and he said he will give me a check. What happens if this check bounces? Do I have to seek legal recourse, or do i still get the money and my bank goes after him?
Just trying to understand the situation