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§ 3410. Acceptance varying draft

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. § 3410
§ 3410. Acceptance varying draft
Currentness
(a) Right of holder to refuse acceptance.--If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.
(b) Effect of acceptance designating place of payment.--The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.
(c) Assent of holder to acceptance.--If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged.

Credits

1992, July 9, P.L. 507, No. 97, § 5, effective in one year.
13 Pa.C.S.A. § 3410, PA ST 13 Pa.C.S.A. § 3410
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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