Tennessee Statutes
§ 47-3-408 — Drawee not liable on unaccepted draft
Tennessee § 47-3-408
JurisdictionTennessee
Title47
This text of Tennessee § 47-3-408 (Drawee not liable on unaccepted draft) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tenn. Code Ann. § 47-3-408 (2026).
Text
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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Related
Bank of Crockett v. Cullipher
752 S.W.2d 84 (Court of Appeals of Tennessee, 1988)
Federal Deposit Insurance v. Newton
737 S.W.2d 278 (Court of Appeals of Tennessee, 1987)
In re Airport-81 Nursing Care, Inc.
36 B.R. 370 (E.D. Tennessee, 1984)
Legislative History
Acts 1995, ch. 397, § 2.
Nearby Sections
15
§ 47-1-101
Short title§ 47-1-102
Scope of chapter§ 47-1-104
Construction against implied repeal§ 47-1-105
Severability§ 47-1-106
Use of singular and plural - Gender§ 47-1-201
General definitions§ 47-1-202
Notice - Knowledge§ 47-1-204
Value§ 47-1-205
Reasonable time - Seasonableness§ 47-1-206
Presumptions§ 47-1-302
Variation by agreementCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 47-3-408, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/47-3-408.