Keith&Co.
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- Joined
- Mar 31, 2006
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- Far Western Mass
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- Here.
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- I'm here...
So, when i was a kid (between the Ice Age and Steam Power), a depatment store suffered a loss of monies owed, right before Xmas.
But the way it was lost was different.
Someone wrote a check on paper that was treated with acid. The check melted. It was squeezed in with the day's receipts and melted most of the checks around it in the deposit bag. They couldn't even identify who wrote them checks that day.
The store took out an ad on the paper, saying if you wrote a check for their store and it didn't clear, please come in and pay them what you owe.
Would you pay them? Why or why not? (Assuming we are NOT in today's world where the funds transfer electronically and instantly, the store just held your IOU.)
Personally, i would not. They got robbed. If i had paid cash, and the cash deposit bag was stolen, they'd be out those funds. I assume they are insured for such losses, and someone, somewhere, wrote down the sum of the bag's contents.
But the way it was lost was different.
Someone wrote a check on paper that was treated with acid. The check melted. It was squeezed in with the day's receipts and melted most of the checks around it in the deposit bag. They couldn't even identify who wrote them checks that day.
The store took out an ad on the paper, saying if you wrote a check for their store and it didn't clear, please come in and pay them what you owe.
Would you pay them? Why or why not? (Assuming we are NOT in today's world where the funds transfer electronically and instantly, the store just held your IOU.)
Personally, i would not. They got robbed. If i had paid cash, and the cash deposit bag was stolen, they'd be out those funds. I assume they are insured for such losses, and someone, somewhere, wrote down the sum of the bag's contents.