Respecting the Rule of Law

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Respecting the rule of law
It is always a good thing to respect the rule of law when it comes to the property of people. That is why; certain laws were put in place to ensure that this takes place. Being that people can own property then they should also be protected by the law. When someone writes a check to a bank, he expects that money would be drawn from his account, and the relevant payment is made. The money from the bank account acts as its property. Therefore, he is the person who owns that property, and it should be respected according to the rule of law. When it comes to selling and buying of properties the most common method of payment used is the check.
However, that is not the case in most situations when there is a Non-sufficient fund. A nonsufficient fund is a terminology that is commonly used in the financial institutions to show that there are insufficient funds in one’s account and therefore his check cannot be honored. In a situation where there are not sufficient funds, the check will always be written ‘Refer to Drawer.’ That is the initial stage where the respect to property right is still disregarded. That is because the drawer is ever expected to give a detailed explanation as to why the check could not be honored. The present fact is that the bank account belongs to the drawer and there was an insufficient fund. Therefore, the drawer should note submitted to any pressure to explain why it the check was bounced back (O’Donnell, 34).

In case of non-sufficient funds, the person who wrote the check may as well suffer the consequence of being charged a fee by the financial institution. Specific errors may occur and thus made the drawers account to be insufficient of funds. It is a reasonable situation and therefore, the financial institution is not supposed to charge that person for such an offense. It is something that is inevitable and can occur at any given time and to any given person. That always results in a loss. A good example is the case of Bill who sells land to James. The next day James writes a check of $255 which is delivered in Bills bank. Unfortunately in his account has only $155 in his account something the bank did not look closely at. Later in the day, he delivers a canceled check to Bills bank. James banks confirm there is not enough money and so they notify Bills bank that a transfer is not possible. James bank is, therefore, decides to debit his account with more $125 with an attachment of an NFS notification. This does not go well with James bank involving NFS check, and so he is charged $35 for having an account that is an overdraft. This is hurting to Bill because the whole process is long and tiring. Bill can be arrested and charged in a court of law.
In some situations where the check is dishonored, the original check is always replaced with the substitute check. All this take place without the concern of the drawer, and he has no authority over it. Then instead of the original check being returned to the depositor, it is the substitute check that is returned. As a result, the drawer may face a challenge of presenting his check in the future due to the past action. There is also a possibility that the drawer may be linked to other merchants (Leslie, 12). As a result, other firms might also refuse checks from the drawer in the future. The rule of respecting people’s property is again violated. The person is not supposed to suffer such consequences. As a businessman, it is very discouraging finding that your business partner deposited a check that is not sufficient.
There are situations where the drawer might be prosecuted because of such an action. The person is taken to court and penalized because of his response. In some cases, the effect is usually unintended and therefore, there is no need of prosecuting someone because of such an activity. Moreover, the account is his property and thus should be left free for the drawer. The person may serve several years in jail because of a simple action. Account closer can also be another consequence that a person may face as a result of Non-sufficient fund check. The bank may decide to terminate his account entirely so that he or she can no longer be part of that financial institution. The account belongs to the drawer, and thus it should be respected. Terminating his statement would be infringing on his right to property. That is because that account is the owner’s property.
In view of all the above, then it is clear that non-sufficient funds can lead to certain consequences. The right to respect the rule of law has got its own limitation. However, in some situations, those limitations should be avoided. That is because it infringes those rights. People work hard to achieve what they have and therefore, it’s good to respect one’s property when it comes to a business transaction.
Works Cited
BIBLIOGRAPHY O’donnell, Guillermo A. “Why the rule of law matters.” Journal of democracy 15.4 (2004): 32-46.
Leslie, Wood. “Bad Check Question.” Independent (2016): 129.
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