Be careful with the 20!

Para español, haz clic aquí

This news is not new, but it can help a lot by sharing it here for those that do not know it. Basically, it’s about warning you about the possibility of a fraud that can be perpetrated against you if you do not date correctly legal documents that you subscribe during this year 2020.

Many of us are used to abbreviating the date on the documents we sign, whether they are checks, contracts, purchase orders, etc. Such is the case, for example, when we sign these documents as 01/10/20, or the way the rest of the world does it, 10/01/20.

If you abbreviate the date in this way, an issuer, holder in due course, recipient, beneficiary, and why not, somebody who has stolen the signed document, could forge the date on the document to alter the rights and obligations under the signed document. For instance, if you sign a check or promissory note, or you sign a mortgage contract, and for whatever reason the beneficiary of the document has allowed the time to present the document for payment in time to pass, or the term to file lawsuit or to exercise a right has passed, if the date has been abbreviated, the only thing the holder of the document has to do is to modify the abbreviated in the following manner—01/10/2022—to fraudulently extend the time for payment.

If it were a check, the time for presentation to the bank might be 90 days or 6 months, depending on the jurisdiction or country, its holder could alter the date to have more time for its presentation, or to file a lawsuit.

These are only two examples of the possible consequences of abbreviating the date during this year 2020. Well, now you know, do not abbreviate the date during 2020!

Contact Us

Free Book Offers

Post A Comment