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What does present consideration mean in deposit account fraud?

What does present consideration mean in deposit account fraud?

Q: What is the statute 16 9 20 in Georgia?

Georgia statute 16-9-20 defines deposit account fraud. It states that a person commits this crime by knowingly issuing a check or payment instrument that will not be honored by the bank, typically in exchange for goods or services. This law aims to prevent fraudulent financial transactions.

Q: How long do you go to jail for bank fraud in Georgia?

The penalties for bank fraud in Georgia can vary based on the severity of the offense. Generally, it can result in imprisonment ranging from one to 15 years, depending on the amount involved and whether it is classified as a misdemeanor or felony. Specific circumstances may influence the sentence.

Q: Is check fraud a felony in Georgia?

Yes, check fraud can be classified as a felony in Georgia, especially if the amount involved exceeds a certain threshold or if it involves multiple offenses. Under Georgia law, penalties can include significant fines and imprisonment, depending on the specifics of the case.

Full question:

Georgia Criminal Code 16-9-20, Deposit Account Fraud (bad check). A person commits the offense of deposit account fraud when such person makes, draws, utters, executes, or delivers an instrument for the payment of money on any bank or other depository in exchange for a present consideration or wages, knowing that it will not be honored by the drawee. My question is: define "present consideration" as it is used in this code section.

Category: Debts and Credit
Subcategory: Bad Checks
Date: 04/07/2025
State: Georgia

Answer:

Present consideration refers to something of value received immediately, rather than a promise for something in the future.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is deposit account fraud in Georgia?

Deposit account fraud in Georgia occurs when a person writes a check or uses another payment instrument, knowing it will not be honored by the bank. This typically involves issuing a check for goods or services without sufficient funds in the account to cover it. The relevant law is found in Georgia Criminal Code 16-9-20.

What is the statute 16 9 20 in Georgia?

How long do you go to jail for bank fraud in Georgia?

Is check fraud a felony in Georgia?

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