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Code of Virginia · § 8.3A-408 — Drawee not liable on unaccepted draft

8.3A-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.

History and annotations

Code 1950, §§ 6-480, 6-543; 1964, c. 219, § 8.3-409; 1992, c. 693.

Official source for this version

Source captured 2026-09-25. Open the official source.

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