Pennsylvania Statutes
§ 3408 — Drawee not liable on unaccepted draft
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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Pennsylvania § 3408 (Drawee not liable on unaccepted draft) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 3403
Unauthorized signature§ 3407
Alteration§ 3410
Acceptance varying draft§ 3413
Obligation of acceptor§ 3414
Obligation of drawer§ 3415
Obligation of indorser