Would you accept a Cashier Check for payment?

[Searay50]

A friend of mine sold an exotic car to a guy in Oklahoma back in the 80’s. Accepted a cashiers check from the buyer, deposited said $300,000 check. Transporter picks up car for buyer. The check is not honored, my friend calls buyer who says “Bull, my bank took the money out of my account the day I purchased the cashiers check.” Long story short, FSLIC had shut down the buyers bank after he purchased the check. A cashiers check is considered a liability on the assets of the issuing bank. He eventually got his money but he was crapping the proverbial blades for a while.