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4-3-408. Drawee not liable on unaccepted draft.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-3-408. 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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-3-408
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-3-408
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: d4dd2b862d667e3d0c46b3d46dc3f6793428326e86e97da14a25b1c9184b4253
Source location: content.xml paragraph 4794
Stored source content
4-3-408. 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.
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