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2021 Maryland Statutes
Commercial Law
Title 3 - Negotiable Instruments
Subtitle 4 - Liability of Parties
Section 3-408 - Drawee Not Liable on Unaccepted Draft
Universal Citation: MD. Commercial Law Code Ann. § 3-408 (2021)
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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