Tennessee Statutes
§ 47-3-408 — Drawee not liable on unaccepted draft
Tennessee·Title 47
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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Tennessee § 47-3-408 (Drawee not liable on unaccepted draft) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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 agreement