Oklahoma § 12A-4-502 Presentment of "On Arrival" Drafts.

Oklahoma Statutes

§ 12A-4-502 — Presentment of "On Arrival" Drafts.

Oklahoma § 12A-4-502

Title 12AUniform Commercial Code

This text of Oklahoma § 12A-4-502 (Presentment of "On Arrival" Drafts.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12A, § 12A-4-502 (2026).

Text

PRESENTMENT OF "ON ARRIVAL" DRAFTS If a draft or the relevant instructions require presentment "on arrival", "when goods arrive" or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.

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

PRESENTMENT OF "ON ARRIVAL" DRAFTS If a draft or the relevant instructions require presentment "on arrival", "when goods arrive" or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.