Sec. 42a-3-410. Acceptance varying draft. - Connecticut Statutes

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Statutes > Connecticut > Title42a > Art003 > Sec42a-3-410

      Sec. 42a-3-410. Acceptance varying draft. (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.

      (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.

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

      (1959, P.A. 133, S. 3-410; P.A. 91-304, S. 47.)

      History: P.A. 91-304 entirely replaced former provisions re acceptance of a draft with provisions re an acceptance which varies the terms of a draft, a restatement of Sec. 42a-3-412, revised to 1991.

      See Sec. 42a-3-409(a), (b) and (c) for successor provisions to Sec. 42a-3-410, revised to 1991, re acceptance of a draft.

      Annotations to former statute (1958 Rev., S. 39-133):

      Oral acceptance was sufficient at common law. 46 C. 90. Acceptance cannot be made conditional by oral agreement. 71 C. 742; 93 C. 396. "Acceptance" means assumption of an undertaking; it imports more than an acknowledgment of the physical possession of the paper. 94 C. 566. Implied acceptance is not enough. 128 C. 482.

      Annotation to present section:

      Cashier's check, in which issuing bank is both drawer and drawee, is considered accepted when issued to payee, who may also be the purchaser, and is equivalent to a negotiable promissory note payable on demand. 33 CS 641.

State Codes and Statutes

Statutes > Connecticut > Title42a > Art003 > Sec42a-3-410

      Sec. 42a-3-410. Acceptance varying draft. (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.

      (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.

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

      (1959, P.A. 133, S. 3-410; P.A. 91-304, S. 47.)

      History: P.A. 91-304 entirely replaced former provisions re acceptance of a draft with provisions re an acceptance which varies the terms of a draft, a restatement of Sec. 42a-3-412, revised to 1991.

      See Sec. 42a-3-409(a), (b) and (c) for successor provisions to Sec. 42a-3-410, revised to 1991, re acceptance of a draft.

      Annotations to former statute (1958 Rev., S. 39-133):

      Oral acceptance was sufficient at common law. 46 C. 90. Acceptance cannot be made conditional by oral agreement. 71 C. 742; 93 C. 396. "Acceptance" means assumption of an undertaking; it imports more than an acknowledgment of the physical possession of the paper. 94 C. 566. Implied acceptance is not enough. 128 C. 482.

      Annotation to present section:

      Cashier's check, in which issuing bank is both drawer and drawee, is considered accepted when issued to payee, who may also be the purchaser, and is equivalent to a negotiable promissory note payable on demand. 33 CS 641.

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State Codes and Statutes

Statutes > Connecticut > Title42a > Art003 > Sec42a-3-410

      Sec. 42a-3-410. Acceptance varying draft. (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.

      (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.

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

      (1959, P.A. 133, S. 3-410; P.A. 91-304, S. 47.)

      History: P.A. 91-304 entirely replaced former provisions re acceptance of a draft with provisions re an acceptance which varies the terms of a draft, a restatement of Sec. 42a-3-412, revised to 1991.

      See Sec. 42a-3-409(a), (b) and (c) for successor provisions to Sec. 42a-3-410, revised to 1991, re acceptance of a draft.

      Annotations to former statute (1958 Rev., S. 39-133):

      Oral acceptance was sufficient at common law. 46 C. 90. Acceptance cannot be made conditional by oral agreement. 71 C. 742; 93 C. 396. "Acceptance" means assumption of an undertaking; it imports more than an acknowledgment of the physical possession of the paper. 94 C. 566. Implied acceptance is not enough. 128 C. 482.

      Annotation to present section:

      Cashier's check, in which issuing bank is both drawer and drawee, is considered accepted when issued to payee, who may also be the purchaser, and is equivalent to a negotiable promissory note payable on demand. 33 CS 641.