13 Pa.C.S. § 3409 Acceptance of Draft; Certified Check

• Library: Pennsylvania Statutes
• Edition: 2023
• Currency: Current through P.A. Acts 23-35
• Year: 2023
• Citation: 13 Pa.C.S. § 3409

(a) Definition of "acceptance".--"Acceptance" means the drawee's signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee's signature alone. Acceptance may be made at any time and becomes effective when notification pursuant to instructions is given or the accepted draft is delivered for the purpose of giving rights on the acceptance to any person.

(b) Acceptance of incomplete, overdue or dishonored draft.--A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete, is overdue or has been dishonored.

(c) Failure to date acceptance of sight draft.--If a draft is payable at a fixed period after sight and the acceptor fails to date the acceptance, the holder may complete the acceptance by supplying a date in good faith.