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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 3. · Article 3. NEGOTIABLE INSTRUMENTS · Part 4. LIABILITY OF PARTIES

11-3-410. Acceptance varying draft.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (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.#

  2. (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.#

  3. (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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-3-410, enacted by Ga. L. 1996, p. 1306, § 3.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 436; merge action: carried; file SHA-256 ad397fccbf21.