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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1303.48 | Acceptance varying draft - UCC 3-410.

Ohio Revised Code
/
Title 13 Commercial Transactions
/
Chapter 1303 Commercial Paper
 
Effective:
August 19, 1994
Latest Legislation:
Senate Bill 147 - 120th General Assembly
PDF:
Download Authenticated PDF
 

(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 which case the drawee is entitled to cancel his acceptance.

(B) The terms of the draft are not varied by an acceptance to pay at any particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at such bank or place.

(C) If the holder assents to an acceptance varying the terms of the draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged.

Available Versions of this Section