GroundRules
AS 45.03.408: Drawee not liable on unaccepted draft.
Where this section sits in the code
- Title 45. Trade and Commerce.
- Chapter 03. Negotiable Instruments.
- Article 4. Liability of Parties.
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 the instrument.
Collected 2026-09-02T06:19:44Z. Source file · JSON