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Liability and duty of receiving bank regarding unaccepted payment order - 13 Pa. Cons. Stat. § 4A212

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     § 4A212.  Liability and duty of receiving bank regarding
                unaccepted payment order.
        If a receiving bank fails to accept a payment order that it
     is obliged by express agreement to accept, the bank is liable
     for breach of the agreement to the extent provided in the
     agreement or in this division but does not otherwise have any
     duty to accept a payment order or, before acceptance, to take
     any action, or refrain from taking action, with respect to the
     order except as provided in this division or by express
     agreement. Liability based on acceptance arises only when
     acceptance occurs as stated in section 4A209 (relating to
     acceptance of payment order), and liability is limited to that
     provided in this division. A receiving bank is not the agent of
     the sender or beneficiary of the payment order it accepts or of
     any other party to the funds transfer, and the bank owes no duty
     to any party to the funds transfer except as provided in this
     division or by express agreement.

Last modified: November 27, 2007