Source: L. 94: Entire article R&RE, p. 866, § 1, effective January 1, 1995.
Editor's note: This section is similar to former § 4-3-412 as it existed prior to 1994.
If the holder assents to the varied acceptance, the drawee's obligation as acceptor is according to the terms of the varied acceptance. Under subsection (c) the effect of the holder's assent is to discharge any drawer or indorser who does not also assent. The assent of the drawer or indorser must be affirmatively expressed. Mere failure to object within a reasonable time is not assent which will prevent the discharge.
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 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 of 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