UCC and Restrictive Endorsements

That is not a restrictive endorsement. It is the Westcap endorsement which is a contractual endorsement, a very different thing with a very different purpose. The man who provided that endorsement is another who was banned from the board but who personally gave me his permission via telephone to freely broadcast the endorsement.

Accord & Satisfaction and restrictive endorsements are totally different things with totally different meanings in law and in order to be binding must follow the definitive reqirements in the laws that set them up and authorize their usage. They are not the invention of some individual person or firm but rather of the various legislatures.

This is not so with the westcap endorsement. It is a contractual agreement to perform and is a unilateral agreement which is offered by one party to another who must either reject or affirm.

Examples of unilateral agreements are those agreements which are sent to you by credit card companies and you either reject by returning the agreement and the card to the company or by initializing the card and using it to make purchases.

The Westcap endorsement is therefore a unilateral agreement and neither an A&S nor a restrictive endorsement.

Anyone wishing to do so may feel free to grab it from my website and use it to their heart's content but must be advised that there are practical restrictions placed upon it by virture of it's physical size. It is so huge that it must be done in 6 point lower case or it will not fit on a check within the signature area on the obverse side of the check.

Like everything else that I do, I have developed a well thought out and well planned strategy for it's use that is specifically tailored to the prospective home buyer whose lender demands that all outstanding debts be paid in order to qualify for the loan.

Here is the strategy that I have worked out and to the best of my knowledge and belief it does work. I have yet to hear of any case in which it did not get the job done although I am sure that like anything else, if it can fail it will sooner or later.

Step 1.
Get the copy and either have a rubber stamp made or use a typewriter with variable font such as the old IBM selectric with the little dancing ball for a print head or maybe use a laser printer and do it that way. Or "borrow" my stamp, whatever. It must be in 6 point lower case so don't think you can get it on the check by handwriting it.

Step 2.
Go to a bank and get a certified check made out to the person or company you must pay.

Step 3.
Go to a photocopy shop and get a two sided photocopy of the check so that the two copies of the check are "in register" when held up to the light.

Step 4.
Put the Westcap endorsement on the back of the check

Step 5.
Get a photocopy of the check with the endorsement in place. Again, this must be a two sided copy so that when held up to the light the front and back are "in register"

Step 6.
Go to the post office and send the check certified mail return receipt requested and send the check to the party you owe.

Step 7.
Wait about 5 days and if you do not have the green card get on line and go to http://www.usps.com and you will see a little box on the right side of the page which is a search box and enter the tracking numbers in the search box. A screen will come up which shows the date, time and place of delivery. Print that out.

Step 8.
Go to your lender and present the first photocopy you made of the check you sent to the creditor and the Postal Form PS 3800, April 2002 and the PS Form 3811, August 2001 to the lender. You have perfect and uncontrovertable proof that you have paid the debt and are now elegible for the loan you have applied for. You should ask him to take photocopies of the documents you presented to him and return the originals.

Step 9. If the creditor cashes the check he has 10 days to remove or he has violated the terms of the contract and you can sue for breach of contract. If he does not cash the check but returns it he may very well have lost all right of collection. There are precedents for that belief in UCC and I believe that most judges would dismiss a creditor's case if that evidence were to be presented to the judge. That is just my personal opinion for whatever it is worth which may or may not be correct. At any rate if they refuse and return the check to you then simply take it back to the bank and get your money back.

As always, one simply must have a well thought out plan of action that gets results rather than just grabbing up some letter or two from some message board or website and flinging them at your creditors or the credit bureaus or whom ever and if that don't work then go back and ask them what to do now since that obviously didn't work. They probably have neither answers nor further help because their ideas were ill-conceived and had no real basis in fact nor in law and they were so sure it was going to work they didn't bother to do their homework either.

It is the same with disputes to the credit bureaus. If that don't work, what is left but to cry a lot?
It is the same with validation & estoppel. If that don't work then what is left but to cry a lot?

Anyway, if properly done and executed the Westcap endorsement and the plan that I have developed to make it work should get the job done.

 

When you put it on the back of a small personal check does it extend below the part printed on the check which says "Do not write, stamp or sign below this line? If it does you may not have a valid stamp. Some say that is important and others say they can't enforce that. I don't know one way or another. You may get by with it and you may end up with problems over it if it extends below that line. That is why when I specify something be done a certain way I am right a whole lot more often than I am wrong so following the directions I give unless you can see for yourself that I am wrong is always best. On the other hand everything I say should be researched so you know in your own mind whether I am right or wrong.

I believe that no matter how smart or well educated a poster is, before you follow the advice given you should always look it up and research it and study it until you know for sure they are right in what they are saying.

If you fail to do that and you get all messed up following somebody else's advice that sounded so cute and neat "really rocks" then you are heading for disaster and it just might not be long in coming to you.

I don't ever want people to take anything I say and run with it. Do your homework, Study the law. Find out for yourself. Investigate everything and take nothing for granted. Doing that will always pay you big dividends.

In reality there probably is none. The westcap endorsement is probably something that the poster "westcap" probably made up himself or maybe was dreamed up by some attorney. Who knows?

Be that as it may. Any two or more parties who can meet the minimum Constitutional requirements for a contract to be created can contract to do anything at all that is not illegal to do. So what is it in the westcap contractual agreement that would be illegal to do?

 

I have had good results by doing this. I also include a "contract" with the check stating the terms, and "depositing the attached check number xxxxx
signifies your agreement and acceptance of these terms"
" if these terms are not acceptable, you must RETURN the check and provide full legal and complete validation of the referenced account"

CA's are a greedy bunch. Once they have that check on their desk, they will sign away their mothers in order to cash it. Especially if the debt is one that would othewise be difficult to collect. And if you make the alternative difficult by requesting validation, they go the easy way.


-Radi8

 

Good post! I think it is almost imperative to include a cover letter with a copy of what is on the back of the check in the cover letter so they can't say that you tried to trick them.

 

Their argument will be that they automate the endorsements and a human never saw the back of the check. Now you get to fight them, and they have your money.


-Radi8

 

It is my understanding that the 15 day advance notice rule applies to payment under Accord & Satisfaction. This has nothing to do with Accord & Satisfaction unless one is attempting to pay less than the full amount of the claimed indebtedness.

A contract is not an accord & satisfaction and it is not a restrictive endorsement. All three are totally different things.