A few months ago, I received a check from a company for whom I used to do freelance work. I assumed it was money owed me. Now, several months later, I've received notice that the check wasn't meant for me, and was their mistake, and if I don't return the amount within two weeks, they'll sic their legal department on me. Do they have a leg to stand on?
If the money was not owed to you, why should you benefit from the mistake? Many states have a law that discusses undue enrichment. It basically means you can't benefit from the error.
Realistically, if you explain to them that you believed that this was money owed you, they may accept some payment arrangement. It would be less costly than legal actions in which you'd likely end up making payments anyway.
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