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§ 3409. Acceptance of draft; certified check

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 3. Negotiable Instruments (Refs & Annos)
Chapter 34. Liability of Parties
13 Pa.C.S.A. § 3409
§ 3409. Acceptance of draft; certified check
(a) Definition of “acceptance”.--“Acceptance” means the drawee's signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee's signature alone. Acceptance may be made at any time and becomes effective when notification pursuant to instructions is given or the accepted draft is delivered for the purpose of giving rights on the acceptance to any person.
(b) Acceptance of incomplete, overdue or dishonored draft.--A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete, is overdue or has been dishonored.
(c) Failure to date acceptance of sight draft.--If a draft is payable at a fixed period after sight and the acceptor fails to date the acceptance, the holder may complete the acceptance by supplying a date in good faith.
(d) Definition of “certified check”.--“Certified check” means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection (a) or by a writing on the check which indicates that the check is certified. The drawee of a check has no obligation to certify the check, and refusal to certify is not dishonor of the check.

Credits

1992, July 9, P.L. 507, No. 97, § 5, effective in one year.
13 Pa.C.S.A. § 3409, PA ST 13 Pa.C.S.A. § 3409
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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