Illinois Statutes
§ 3-408 — Drawee not liable on unaccepted draft
Illinois § 3-408
JurisdictionIllinois
TopicBUSINESS AND EMPLOYMENT
Ch. 810COMMERCIAL CODE
Act 810 ILCS 5/Uniform Commercial Code.
Art.Article 3 - Negotiable Instruments
This text of Illinois § 3-408 (Drawee not liable on unaccepted draft) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
810 Ill. Comp. Stat. 3-408 (2026).
Text
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.
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Legislative History
(Source: P.A. 87-582.)
Nearby Sections
15
§ 3-101
Short title§ 3-102
Subject matter§ 3-103
Definitions§ 3-104
Negotiable instrument§ 3-105
Issue of instrument§ 3-111
Place of payment§ 3-112
Interest§ 3-113
Date of instrument§ 3-115
Incomplete instrumentCite This Page — Counsel Stack
Bluebook (online)
Illinois § 3-408, Counsel Stack Legal Research, https://law.counselstack.com/statute/il/810/3-408.