Ohio Code 1303.48 – Acceptance varying draft – UCC 3-410
Current as of: 2023 | Check for updates
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(A) If the terms of a drawee‘s acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored in which case the drawee is entitled to cancel his acceptance.
Terms Used In Ohio Code 1303.48
- Drawee: means a person ordered in a draft to make payment. See Ohio Code 1303.01
- Drawer: means a person who signs or is identified in a draft as a person ordering payment. See Ohio Code 1303.01
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- United States: includes all the states. See Ohio Code 1.59
(B) The terms of the draft are not varied by an acceptance to pay at any particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at such bank or place.
(C) If the holder assents to an acceptance varying the terms of the draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged.