(a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.
(b) The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.
(c) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 3 - Negotiable Instruments
§ 4-3-402. Signature by representative
§ 4-3-403. Unauthorized signature
§ 4-3-404. Impostors — Fictitious payees
§ 4-3-405. Employer's responsibility for fraudulent indorsement by employee
§ 4-3-406. Negligence contributing to forged signature or alteration of instrument
§ 4-3-408. Drawee not liable on unaccepted draft
§ 4-3-409. Acceptance of draft — Certified check
§ 4-3-410. Acceptance varying draft
§ 4-3-411. Refusal to pay cashier's checks, teller's checks, and certified checks
§ 4-3-412. Obligation of issuer of note or cashier's check
§ 4-3-413. Obligation of acceptor
§ 4-3-414. Obligation of drawer
§ 4-3-415. Obligation of indorser
§ 4-3-416. Transfer warranties
§ 4-3-417. Presentment warranties
§ 4-3-418. Payment or acceptance by mistake