California Law (Last Updated: March 4, 2014) |
Commercial Code - COM |
Division 3. NEGOTIABLE INSTRUMENTS |
Chapter 4. Liability of Parties |
Section 3408.
Latest version.
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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.
(Repealed and added by Stats. 1992, Ch. 914, Sec. 6. Effective January 1, 1993.)