Final Payment

[ALLSTAR24TOWING]

What is the name of your state?Allentown, Pa.

Final Payment written on check.

My question is that if you write final payment on a check (memo area) and the person who signs the check, does that officially mean it is final payment? Another words, the person who signs the check agrees that this is the final payment.
Please also note this is not attempt to get out of a loan.

Thank you
Edward

 

[Ladynred]

My question is that if you write final payment on a check (memo area) and the person who signs the check, does that officially mean it is final payment?

NO, it does not. Accord and Satisfaction is NOT upheld by PA law. The receiver of the check can cross out any restrictive endorsements, the writer would still owe the balance if there is one.

 

[oiseeyuronhere]

signing "pd in full" doesn't really mean anything anymore. When I worked in a revenue department, anytime we got a check that had pd in full on it we were instructed to endorse on the back of the check "taken under protest" this was done to protect us should the client owe more on their account.