Louisiana Statutes
§ 10:3-408 — Drawee not liable on unaccepted draft
Louisiana·Title 10 Commercial Laws
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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Louisiana § 10:3-408 (Drawee not liable on unaccepted draft) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1992, No. 1133, §3, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.
Nearby Sections
15
§ 10:3-101
§ 10:3-101§ 10:3-102
Subject matter§ 10:3-103
Definitions§ 10:3-104
Negotiable instrument§ 10:3-105
Issue of instrument§ 10:3-106
Unconditional promise or order§ 10:3-107
Instrument payable in foreign money§ 10:3-108
Payable on demand or at definite time§ 10:3-109
Payable to bearer or to order§ 10:3-111
Place of payment§ 10:3-112
Interest§ 10:3-113
Date of instrument§ 10:3-114
Contradictory terms of instrument§ 10:3-115
Incomplete instrument