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    • Legislation USA
    • Maryland Statutes
    • Commercial Law
    • Title 3 - Negotiable Instruments
    • Subtitle 4 - Liability of Parties
    • Section 3-408 - Drawee Not Liable on Unaccepted Draft

    Maryland Statutes
    Subtitle 4 - Liability of Parties
    Section 3-408 - Drawee Not Liable on Unaccepted Draft

    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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    Structure Maryland Statutes

    Maryland Statutes

    Commercial Law

    Title 3 - Negotiable Instruments

    Subtitle 4 - Liability of Parties

    Section 3-401 - Signature

    Section 3-402 - Signature by Representative

    Section 3-403 - Unauthorized Signature

    Section 3-404 - Imposters; Fictitious Payees

    Section 3-405 - Employer's Responsibility for Fraudulent Indorsement by Employee

    Section 3-406 - Negligence Contributing to Forged Signature or Alterations of Instrument

    Section 3-407 - Alteration

    Section 3-408 - Drawee Not Liable on Unaccepted Draft

    Section 3-409 - Acceptance of Draft; Certified Check

    Section 3-410 - Acceptance of Varying Draft

    Section 3-411 - Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks

    Section 3-412 - Obligation of Issuer of Note or Cashier's Check

    Section 3-413 - Obligation of Acceptor

    Section 3-414 - Obligation of Drawer

    Section 3-415 - Obligation of Indorser

    Section 3-416 - Transfer Warranties

    Section 3-417 - Presentment Warranties

    Section 3-418 - Payment or Acceptance by Mistake

    Section 3-419 - Instruments Signed for Accommodation

    Section 3-420 - Conversion of Instrument

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