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Drawee not liable on unaccepted draft. Drawee not liable on unaccepted draft.

Drawee not liable on unaccepted draft. - PDF document

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Drawee not liable on unaccepted draft. - PPT Presentation

3553 408 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 th ID: 450137

355.3 - 408 A check other draft

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355.3 - 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. Effective: January 1, 1997 History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 46, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 3 - 408, effective July 1, 1960.