§ 4-3-409 — Acceptance of draft; certified check

Colorado § 4-3-409

• Jurisdiction: Colorado
• Title 04: Uniform
• Art.: Negotiable Instruments

Text

(a) 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) A draft may be accepted although it has not been signed by the drawer, is
otherwise incomplete, is overdue, or has been dishonored.

(c) 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) Certified check means a check accepted by the bank on which it is
drawn. Acceptance may be made as stated in subsection (a) of this section 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.

Legislative History

Source: L. 94: Entire article R&RE, p. 866, � 1, effective January 1, 1995.