(a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.
(b) The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.
(c) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and endorser that does not expressly assent to the acceptance is discharged.
Section: Previous 45.03.403 45.03.404 45.03.405 45.03.406 45.03.407 45.03.408 45.03.409 45.03.410 45.03.411 45.03.412 45.03.413 45.03.414 45.03.415 45.03.416 45.03.417 NextLast modified: November 15, 2016