PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS
Chapter 3:
Section: 12A:3-408: 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.
L.1995,c.28,s.1.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 12a:3-408 (if available):
Court decisions that cite this statute:
CLICK HERE.