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2011 Vermont Code
Title 09A Uniform Commercial Code
Article 3 Commercial Paper
§ 408 Drawee not liable on unaccepted draft
Universal Citation:
9A VT Stats § 3-408. (2011 through Adj Sess)
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§ 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. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
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