Which is NOT considered "good funds" under the Missouri law?

In Missouri, the term "good funds" refers to funds that are readily available and can be used without delay to complete a real estate transaction. This is important for ensuring that all parties can reliably execute their financial obligations in a timely manner.

The choice that is not considered "good funds" under Missouri law pertains to checks that are exempt from the Good Funds Law. These exempt checks, which might include specific types of personal or non-certified checks, do not guarantee immediate availability of the funds. They can require additional time for clearing, which might create delays in the transaction process.

On the other hand, certified checks, cash equivalents, and wire transfers are all viewed as good funds because they provide immediate or near-instant access to cash. Certified checks are guaranteed by the issuing bank, cash equivalents such as cashier's checks can be quickly converted to cash, and wire transfers are processed electronically, providing prompt availability of funds. Thus, the correct identification of what does not qualify as good funds emphasizes the importance of ensuring that any funds used in real estate transactions are secure and readily available.