Statutes > Rhode Island Statutes > Title 6A - Uniform Commercial Code > CHAPTER 6A-3 - Negotiable Instruments > § 6A-3-408 - Drawee not liable on unaccepted draft.

§ 6A-3-408 - Drawee not liable on unaccepted draft.

SECTION 6A-3-408

   § 6A-3-408  Drawee not liable on unaccepteddraft. – A check or other draft does not of itself operate as an assignment of funds inthe hands of the drawee available for its payment, and the drawee is not liableon the instrument until the drawee accepts it.