GroundRules
Tex. Business & Commerce Code § 3.408: DRAWEE NOT LIABLE ON UNACCEPTED DRAFT.
Where this section sits in the code
- BUSINESS AND COMMERCE CODE
- TITLE 1. UNIFORM COMMERCIAL CODE
- CHAPTER 3. NEGOTIABLE INSTRUMENTS
- SUBCHAPTER D. 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 it.
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.
Collected 2026-08-27T01:46:56Z. Source file · JSON