On June 1,Dave Drawer Writes a Check to Pete Payee

question 59

Essay

On June 1,Dave Drawer writes a check to Pete Payee.The check is postdated to July 1.Nonetheless,Pete presents the check for payment at Dave's bank on June 15,and receives payment on that date.After Dave learns of this,he screams bloody murder,arguing that the check was not properly payable and that the bank should recredit his account.Is Dave right? Assume that the check is otherwise properly payable,and that Dave never told the bank about it before Pete presented it.

---

Definitions:

Patient Protection And Affordable Care Act

U.S. healthcare reform law enacted in 2010 aimed at increasing health insurance coverage for the uninsured and reducing healthcare costs.

Employer-Provided Health Insurance

A form of health coverage provided by an employer to its employees as part of a benefits package.

Personal Mandate Provision

A legislative requirement that individuals obtain or provide themselves with a specific service or product.

Federal Poverty Line

A government-determined income threshold below which an individual or family is considered to be living in poverty.