A recent hint gave instructions for enabling and disabling rubber band scrolling in Mac OS X Lion, using a Terminal command. This hint contains an Applescript to do the same, without having to use Terminal.
Compile this script in Applescript Editor and run it. It will let you enable or disable rubber band scrolling.
display dialog "Disable or enable rubber banding?" buttons {"Enable", "Disable", "Cancel"} default button "Cancel" with title "Rubber Band Control" giving up after 15
if button returned of the result is "Disable" then
do shell script "defaults write -g NSScrollViewRubberbanding -int 0"
else if button returned of the result is "Enable" then
do shell script "defaults delete -g NSScrollViewRubberbanding"
end if
Mac OS X Hints
http://hints.macworld.com/article.php?story=20120607083435714