Idaho Code
Part 5 - COLLECTION OF DOCUMENTARY DRAFTS
Section 28-4-501 - HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR.

28-4-501. HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR. A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or brought the draft or extended credit available for withdrawal as of right.

History:
[28-4-501, added 1967, ch. 161, sec. 4-501, p. 351; am. 1993, ch. 288, sec. 42, p. 1073.]

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Structure Idaho Code

Idaho Code

Title 28 - COMMERCIAL TRANSACTIONS

Chapter 4 - UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS

Part 5 - COLLECTION OF DOCUMENTARY DRAFTS

Section 28-4-501 - HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR.

Section 28-4-502 - PRESENTMENT OF “ON ARRIVAL” DRAFTS.

Section 28-4-503 - RESPONSIBILITY OF PRESENTING BANK FOR DOCUMENTS AND GOODS — REPORT OF REASONS FOR DISHONOR — REFEREE IN CASE OF NEED.

Section 28-4-504 - PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS — SECURITY INTEREST FOR EXPENSES.