check kiting

check kiting definition - legal

v

To write a check while knowing that there are insufficient funds in oneÂ’s account to cover it. Depending on the circumstances, check kiting is often a crime, especially if the drawer or maker has previously deposited a check from another bank into his account and hopes that the funds from that check will reach his account before the outgoing check is paid. Also called kite and kiting. See also check.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.