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VIRGINIA STATUTES AND CODES
8.3A-408 - A-408. Drawee not liable on unaccepted draft.
§ 8.3A-408. Drawee not liable on unaccepted draft.
A check or other draft does not of itself operate as an assignment of fundsin the hands of the drawee available for its payment, and the drawee is notliable on the instrument until the drawee accepts it.
(Code 1950, §§ 6-480, 6-543; 1964, c. 219, § 8.3-409; 1992, c. 693.)
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