I have an issue where my depositcheck that has my name, along with my two other roommates' names has been deposited into one of my roommates' accounts, and the bank required only one signature. My roommate refuses to give me my third of the check. All of our names are printed on the check, and each name is separated by a slash (/). Is the bank allowed to do this?
Yes, the bank handled the check correctly. When your landlord issued the refund of your rental deposit, he or she used slashes to separate the three payees' names. The use of a slash instead of the word "and" or an ampersand ("&") makes the check signer's intention ambiguous, and that means the check can be endorsed and deposited or cashed by any one of the multiple payees.
If a check issuer wants to ensure that all multiple payees' endorsements are required for negotiation, the payees' names must be connected with "and" or "&." That means you have to look to the former roommate to get the money for your share.
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Yes, the bank handled the check correctly. When your landlord issued the refund of your rental deposit, he or she used slashes to separate the three 