§ 554.3409 — Acceptance of draft — certified check

Iowa § 554.3409

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

1. “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.
2. A draft may be accepted although it has not been signed by the drawer, is otherwise
incomplete, is overdue, or has been dishonored.
3. 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.
4. “Certifiedcheck”meansacheckacceptedbythebankonwhichitisdrawn. Acceptance
may be made as stated in subsection 1 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.