Mass. Gen. Laws ch. 106 § 3-408

Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session
Section 106:3-408 - Drawee not liable on unaccepted draft

A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

Mass. Gen. Laws ch. 106, § 3-408