Tenn. Code Ann. § 47-3-408

Drawee not liable on unaccepted draft

Year: 2026Length: 90 words
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. Acts 1995, ch. 397, § 2. 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. Acts 1995, ch. 397, § 2.
Tenn. Code Ann. § 47-3-408: Drawee not liable on unaccepted draft | Justis AI