{"data":{"id":"us-tx/tex.-business-commerce-code-4.502","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 4.502","heading":"PRESENTMENT OF \"ON ARRIVAL\" DRAFTS.","body":"If a draft or the relevant instructions require presentment \"on arrival\", \"when goods arrive\", or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.\nActs 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Amended by Acts 1995, 74th Leg., ch. 921, Sec. 4, eff. Jan. 1, 1996.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 4. BANK DEPOSITS AND COLLECTIONS","SUBCHAPTER E. COLLECTION OF DOCUMENTARY DRAFTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.4.htm#4.502","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"088b2e8262008cc739e57fe548819080c9e3944026f46b451398d4c50c0cf9e7","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-4.501","next":"us-tx/tex.-business-commerce-code-4.503"},"notice":"GroundRules: Original legal text. Not legal advice."}