Illinois Compiled Statutes 810 ILCS 5 Uniform Commercial Code. Section 2-514

    (810 ILCS 5/2-514) (from Ch. 26, par. 2-514)

    Sec. 2-514. When documents deliverable on acceptance; when on payment.

    Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than 3 days after presentment; otherwise, only on payment.

(Source: Laws 1961, p. 2101.)

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Last modified: February 18, 2015