Statute · California Commercial Code
Cal. Com. Code § 11212 — Issue and Acceptance of Payment Order
Cal. Com. Code § 11212
- Type
- Statute
- Source
- California Commercial Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this division, but does not otherwise have any duty to accept a payment order or, before acceptance,…
Citator
Cal. Com. Code § 11212 — Issue and Acceptance of Payment Order is in force in the current edition of the Code, and nothing recorded condemns it.
If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this division, but does not otherwise have any duty to accept a payment order or, before acceptance, to take any action, or refrain from taking action, with respect to the order except as provided in this division or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in Section 11209, and liability is limited to that provided in this division. A receiving bank is not the agent of the sender or beneficiary of the payment order it accepts, or of any other party to the funds transfer, and the bank owes no duty to any party to the funds transfer except as provided in this division or by express agreement.