Michigan Compiled Laws § 440.2514 Documents; Delivery To Drawee On Acceptance Or Payment.

440.2514 Documents; delivery to drawee on acceptance or payment.

Sec. 2514.

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.

History: 1962, Act 174, Eff. Jan. 1, 1964

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Last modified: October 10, 2016