Nevada § 104.4504 Privilege of presenting bank to deal with goods; security interest for expenses

Nevada Statutes

§ 104.4504 — Privilege of presenting bank to deal with goods; security interest for expenses

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Collection of Documentary Drafts

1.A presenting bank which, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell or otherwise deal with the goods in any reasonable manner.

2.For its reasonable expenses incurred by action under subsection 1 the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller’s lien.

Free access — add to your briefcase to read the full text and ask questions with AI

1. A presenting bank which, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell or otherwise deal with the goods in any reasonable manner.
2. For its reasonable expenses incurred by action under subsection 1 the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller’s lien.

Nevada § 104.4504 (Privilege of presenting bank to deal with goods; security interest for expenses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.