What is the law on stop payment on a check?

The usual guidelines on stop payment on checks are:

1. Any person who issues a check has the right to give a stop payment on it
2. Stop payment advise must be issued before the check is cashed or paid
3. If the stop payment is given after the check is cashed, it is useless
4. If a person issues a stop payment, he/she is still liable to pay the money to the person to whom they had given the check.