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Page 336
... draft or to an indorser who paid the draft under R.S. 10 : 3-415 . ( c ) If a draft is accepted by a bank , the drawer is discharged , regardless of when or by whom acceptance was obtained . ( d ) If a draft is accepted and the acceptor ...
... draft or to an indorser who paid the draft under R.S. 10 : 3-415 . ( c ) If a draft is accepted by a bank , the drawer is discharged , regardless of when or by whom acceptance was obtained . ( d ) If a draft is accepted and the acceptor ...
Page 337
... draft is accepted by a drawee other than a bank and the accep- tor dishonors . The drawer of an unac- cepted draft is the only party liable on the instrument . The drawee has no liability on the draft . Section 3-408 . When the draft is ...
... draft is accepted by a drawee other than a bank and the accep- tor dishonors . The drawer of an unac- cepted draft is the only party liable on the instrument . The drawee has no liability on the draft . Section 3-408 . When the draft is ...
Page 395
... draft is payable on demand and Paragraph ( 1 ) does not apply , the draft is dishonored if presentment for payment is duly made to the drawee and the draft is not paid on the day of presentment . ( 3 ) If a draft is payable on a date ...
... draft is payable on demand and Paragraph ( 1 ) does not apply , the draft is dishonored if presentment for payment is duly made to the drawee and the draft is not paid on the day of presentment . ( 3 ) If a draft is payable on a date ...
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Common terms and phrases
acceptance acceptor accommodation party action agreement alleged American Law Reports amount Article Bank & Trust Bank of Louisiana Bills and Notes blank burden of proof cashier's check certificate claim comaker Commercial Laws consist of R.S. corporation Credit creditor debt defense demand demand note deposit depositary bank discharge draft drawee drawee bank drawer due course Edition or ULA effective failure of consideration forged form Commercial Code former Section fraud Historical and Statutory holder in due indorser instru La.Ann La.App liability Louisiana maker Master Edition maturity mortgage note negotiable instrument notary notes preceding R.S. notice of dishonor notice of protest obligation Orleans paid payee payee's payment person plaintiff Presumptions and burden Prior Laws promise promissory note purchase recover repealed seller signature signed Statutory Notes subject matter Subsection Table 1 preceding thereof tion transfer Uniform Commercial Code warranty Westlaw Electronic Research writ denied