Additionally, you, as the professor, could really teach him some law by calling and telling him that (1) you are closing his account; and (2) a check for the balance in his account is in the mail.
I wonder if his law professors taught him that his bank has the right to close his account at any time.
Once the fine is paid, the criminal claim against the drawer is dismissed, and the creditor must resort to a civil claim in the Dubai courts or other tribunal with jurisdiction over the transaction, to recover unpaid sums.
Because the drawer does not face confinement for his actions, this diminishes the value of PDCs as an effective form of security considerably.
These penalties can be a fraction of the actual value of the PDC.
The debtor has a right to appeal the fine within 7 days of a verdict.
He called the bank the other day and stated that he mailed a post dated check to someone and if we allowed that item to clear his account before the date on the check, we would be liable for the funds coming out of his account.
He stated that he just learned in a class of his that if he gave the bank notice of this check, we were accountable if we allowed the item to clear his account before the date on the check.
One more thing: Tell him to pay closer attention in class next time.
The UCC does not regulate fees that banks charge customers for a notice of postdating or other services covered by the Act.