(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 indorser that does not expressly assent to the acceptance is discharged.
Section: Previous 11-3-403 11-3-404 11-3-405 11-3-406 11-3-407 11-3-408 11-3-409 11-3-410 11-3-411 11-3-412 11-3-413 11-3-414 11-3-415 11-3-416 11-3-417 NextLast modified: October 14, 2016