California Commercial Code Section 4502
Legal Research Home >
California Laws > Commercial Code > California Commercial Code Section 4502
4502. If a draft or the relevant instructions require presentment
"on arrival," "when goods arrive" or the like, the collecting bank
need not present until in its judgment a reasonable time for arrival
of the goods has expired. Refusal to pay or accept because the goods
have not arrived is not dishonor; the bank shall notify its
transferor of the refusal but need not present the draft again until
it is instructed to do so or learns of the arrival of the goods.
Section: 4502
Last modified: February 22, 2013
|
