New York Statutes
§ 3-409 — Draft Not an Assignment
Section 3--409. Draft Not an Assignment.\n (1) A check or other draft does not of itself operate as an assignment\nof any funds in the hands of the drawee available for its payment, and\nthe drawee is not liable on the instrument until he accepts it.\n (2) Nothing in this section shall affect any liability in contract,\ntort or otherwise arising from any letter of credit or other obligation\nor representation which is not an acceptance.\n
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Related
Demerritt v. Levitt
71 A.D.2d 757 (Appellate Division of the Supreme Court of New York, 1979)
Berman Brothers-Bloch Furs Inc. v. Fashion Vault Corp.
50 A.D.3d 450 (Appellate Division of the Supreme Court of New York, 2008)
Nearby Sections
15
§ 3-101
Short Title§ 3-106
Sum Certain§ 3-107
Money§ 3-108
Payable on Demand§ 3-109
Definite Time§ 3-110
Payable to Order§ 3-111
Payable to Bearer§ 3-113
Seal§ 3-114
Date, Antedating, Postdating§ 3-115
Incomplete Instruments