Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 3-412 — Acceptance Varying Draft
N.Y. U.C.C. Law § 3-412
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 4, 2026 (NY Senate Open Legislation)
Section 3--412. Acceptance Varying Draft.
Citator
N.Y. U.C.C. Law § 3-412 — Acceptance Varying Draft is in force in the current edition of the Code, and nothing recorded condemns it.
Section 3--412. Acceptance Varying Draft.
(1) Where the drawee's proffered acceptance in any manner varies the draft as presented the holder may refuse the acceptance and treat the draft as dishonored in which case the drawee is entitled to have his acceptance cancelled.
(2) 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.
(3) Where the holder assents to an acceptance varying the terms of the draft each drawer and indorser who does not affirmatively assent is discharged.