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Ohio Rev. Code Ann. § 1303.48

Acceptance varying draft - UCC 3-410

Applied in 1 court decision — leading case 94 Ohio App. 3d 240 - McGlothin v. Huffman (1994)

Most recently applied in 94 Ohio App. 3d 240 - McGlothin v. Huffman (April 1994)

Effective: August 19, 1994; Latest Legislation: Senate Bill 147 - 120th General Assembly

(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.

(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.

Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.