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From: barmar@mit-eddie.UUCP (Barry Margolin)
Newsgroups: net.misc,net.legal
Subject: Re: Legality of refusing to accept bills greater than $20
Message-ID: <1179@mit-eddie.UUCP>
Date: Sat, 14-Jan-84 00:07:11 EST
Article-I.D.: mit-eddi.1179
Posted: Sat Jan 14 00:07:11 1984
Date-Received: Sat, 14-Jan-84 07:33:10 EST
References: <1396@burdvax.UUCP>
Organization: MIT, Cambridge, MA
Lines: 17

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Could some one shed some light on this issue. I have seen signs
in stores that say there will be a $5.00 charge for any checks
returned form the bank for any reason. Who would be dumb enough
to pay this? Can the store collect from the bank? I ceratinly hope
not. I would say the store would be greatful to get the money
for the goods. After all you have both of these.
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Most banks charge the account a fine when they have to return a check.
My bank allows me to have a negative balance in my NOW account (I
believe it is conditional on my having a sufficient balance in the
associated savings account), but still fines me for overdrafts.
-- 
			Barry Margolin
			ARPA: barmar@MIT-Multics
			UUCP: ..!genrad!mit-eddie!barmar