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Acceptance of draft; certified check - 13 Pa. Cons. Stat. § 3409Legal Research Home > Pennsylvania Statutes
§ 3409. Acceptance of draft; certified check.
(a) Definition of "acceptance".--"Acceptance" means the
drawee's signed agreement to pay a draft as presented. It must
be written on the draft and may consist of the drawee's
signature alone. Acceptance may be made at any time and becomes
effective when notification pursuant to instructions is given or
the accepted draft is delivered for the purpose of giving rights
on the acceptance to any person.
(b) Acceptance of incomplete, overdue or dishonored draft.--
A draft may be accepted although it has not been signed by the
drawer, is otherwise incomplete, is overdue or has been
dishonored.
(c) Failure to date acceptance of sight draft.--If a draft
is payable at a fixed period after sight and the acceptor fails
to date the acceptance, the holder may complete the acceptance
by supplying a date in good faith.
(d) Definition of "certified check".--"Certified check"
means a check accepted by the bank on which it is drawn.
Acceptance may be made as stated in subsection (a) or by a
writing on the check which indicates that the check is
certified. The drawee of a check has no obligation to certify
the check, and refusal to certify is not dishonor of the check.
Cross References. Section 3409 is referred to in sections
3103, 4104, 5102 of this title.
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Last modified: November 27, 2007 |
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