I got a wierd email from a bean counter for a general contractor I just finished up a project with. Discount Tire here in Kingman was the owner, I won't mention the contractor because that would be rude.
She wants me to sign a "commingling agreement" so that they can deposit their final check from the tire store, which apparently is a two party check that I cashed over a month ago. She claims I have been paid in full, which I have not (still about $70 out there on a $7K staking job). Now I have to look at my partial waiver I signed....
They still owe me money, which I doubt I'll ever see. Unless of course I sign this thing which is basically an agreement between them and their bank, and has nothing really to do with me.
I just wonder - what is a "commingling agreement". I'm too old and too cynical to wonder too much, but it is perplexing. Thoughts??
Was Maxine Olmsted the contractor ? 🙂
Interesting legal/financial tidbit that I was let in on, and it may or may not vary from state to state. When you endorse the back of a check you effectively become a party to that transaction, and your endorsement leaves you liable, to whatever extent, for the sufficiency of the funds of that transaction.
I've heard the same thing, or at least it sounds feasible. But I sort of assume that once the check clears and is deposited in your account, then they are the ones with any potential problems. Besides, all I did is work for an agreed upon fee and they paid me.
I questioned her on this commingling thing and have yet to receive a reply. Then again, this particular contractor has been nothing but goofy throughout the entire project. I'm glad it's done, the store is opened, and I'll never work for them again.
Recently I got an RFQ from a mining company to stake a bunch of mine claims. They wouldn't tell me where they were until I signed a "Non Compete" clause wherein I wouldn't take on any work within a 100 mile radius that conflicted in any business they may enjoy. After I got done laughing and politely declined and wished them adieu.