Stop payment on a check laws

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Stop payment on a check laws

I recently sold some silver coins to a
local coin shop. They wrote me a check
for 1072. I cashed it at a check
cashing store 2 days later. They
contacted me to tell me they made s
mistake and stopped payment on the
check. I went to the shop to talk with
them and try to work something out with
them like 50/50 hit on the mistake
they refused and wrote me a check for
what they say was the right amount
302 can they just do that? I asked
for the coins back and they said they
didn’t have them anymore. What do I do?
Can I sue them for the 700ish dollars
and attorney fees I’ll acquire fighting
this?

Asked on August 11, 2017 under Business Law, Michigan

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Yes, you can sue them for the $790, for breach of contract: $1,092 is the amount you agreed (even if only orally) to sell it to them for, and since you performed (gave them the coins), they were obligated to pay you that amount. Their mistake--if this was a mistake, and not deliberate--does not allow them to get out of their contractual obligations. If they had told you that the price was $302 and you'd agreed to that amount, but they then later accidently wrote the check for $1,092, that would be different: that would be an error that could be reversed, since you and they had agreed to a different price and it is the agreement which is enforceable. But if the agreement--what you agreed to, and why you sold them the coins--was $1,092, that is what they are bound to.


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