Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more than three (3) days after presentment; otherwise, only on payment.
Ark. Code Ann. § 4-2-514
When documents deliverable on acceptance — When on payment
Known as the Uniform Commercial Code
The act spans §§ 4–4 (597 sections).
Acts 1961, No. 185, § 2-514; A.S.A. 1947, § 85-2-514.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.