1. MCA Contents
  2. TITLE 30
  3. CHAPTER 3
  4. Part 4
  5. 30-3-409 Drawee not liable on unaccepted draft

TITLE 30. TRADE AND COMMERCE

CHAPTER 3. UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS

Part 4. Liability of Parties

Drawee Not Liable On Unaccepted Draft

30-3-409. Drawee not liable on unaccepted draft. A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

History: En. Sec. 3-409, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-409; amd. Sec. 132, Ch. 410, L. 1991.