8.3A-410 - A-410. Acceptance varying draft. - Virginia Statutes

§ 8.3A-410. Acceptance varying draft.

(a) If the terms of a drawee's acceptance vary from the terms of the draft aspresented, the holder may refuse the acceptance and treat the draft asdishonored. In that case, the drawee may cancel the acceptance.

(b) The terms of a draft are not varied by an acceptance to pay at aparticular bank or place in the United States, unless the acceptance statesthat 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, theobligation of each drawer and endorser that does not expressly assent to theacceptance is discharged.

(Code 1950, §§ 6-492 through 6-495; 1964, c. 219, § 8.3-412; 1992, c. 693.)