Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than three (3) days after presentment; otherwise, only on payment.
History. Acts 1961, No. 185, § 2-514; A.S.A. 1947, § 85-2-514.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
§ 4-2-501. Insurable interest in goods — Manner of identification of goods
§ 4-2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency
§ 4-2-503. Manner of seller's tender of delivery
§ 4-2-505. Seller's shipment under reservation
§ 4-2-506. Rights of financing agency
§ 4-2-507. Effect of seller's tender — Delivery on condition
§ 4-2-508. Cure by seller of improper tender or delivery — Replacement
§ 4-2-509. Risk of loss in the absence of breach
§ 4-2-510. Effect of breach on risk of loss
§ 4-2-511. Tender of payment by buyer — Payment by check
§ 4-2-512. Payment by buyer before inspection
§ 4-2-513. Buyer's right to inspection of goods
§ 4-2-514. When documents deliverable on acceptance — When on payment