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Texas Business & Commerce Code - Section 35.39. Damages On Protested, Out-Of-State Draft

Legal Research Home > Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 35.39. Damages On Protested, Out-Of-State Draft

§ 35.39. DAMAGES ON PROTESTED, OUT-OF-STATE DRAFT.  The 
holder of a protested draft is entitled to damages equalling 10 
percent of the amount of the draft, plus interest and costs of suit, 
if the
		(1)  draft was drawn by a merchant in this state on his 
agent or factor outside this state;  and
		(2)  drawer's or indorser's liability on the draft has 
been fixed.          

Acts 1967, 60th Leg., p. 2343, ch. 785, § 1.                               

Last modified: August 10, 2007