Ohio Revised Code (Last Updated: January 27, 2016) |
Title 13. XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE |
Chapter 1303. COMMERCIAL PAPER |
Section 1303.45. Drawee not liable on unaccepted draft - UCC 3-408
Latest version.
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A check or other draft does not of itself operate as an assignment of any funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until he accepts it.
Effective Date: 08-19-1994