Uniform Commercial Code
Florida · Uniform Commercial Code: Bank Deposits and Collections · §§ 674.101 to 674.504 · 41 sections
Overview
The Uniform Commercial Code governs commercial transactions, with the provisions here covering the sale of goods and the treatment of certain electronic records that function as payment or account rights. For sales, it supplies default rules that fill gaps in contracts — price, delivery, timing, and payment terms — alongside requirements for contract formation and modification, a statute of frauds, limits on the use of extrinsic evidence, and rules on when acceptance with added terms creates a binding agreement. It also establishes warranties that attach to a sale, including title, express warranties created by description or sample, and implied warranties of merchantability and fitness for a particular purpose, and it empowers courts to refuse enforcement of unconscionable terms.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 12 court decisions.
Most-cited authority: 749 F.3d 938 - Lamm ex rel. Ira v. State Street Bank & Trust
Sections covered
- Fla. Stat. § 674.101Short title
- Fla. Stat. § 674.102Applicability
- Fla. Stat. § 674.103Variation by agreement; measure of damages; action constituting ordinary care4 cites
- Fla. Stat. § 674.104Definitions and index of definitions1 cite
- Fla. Stat. § 674.105“Bank”; “depositary bank”; “payor bank”; “intermediary bank”; “collecting bank”; “presenting bank.”
- Fla. Stat. § 674.1061Payable through or payable at bank; collecting bank
- Fla. Stat. § 674.1071Separate office of bank
- Fla. Stat. § 674.1081Time of receipt of items
- Fla. Stat. § 674.1091Delays
- Fla. Stat. § 674.1101Electronic presentment
- Fla. Stat. § 674.111Statute of limitations
- Fla. Stat. § 674.201Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed “pay any bank.”
- Fla. Stat. § 674.202Responsibility for collection or return; when action timely
- Fla. Stat. § 674.203Effect of instructions
- Fla. Stat. § 674.204Methods of sending and presenting; sending directly to payor bank
- Fla. Stat. § 674.205Depositary bank holder of unindorsed item
- Fla. Stat. § 674.206Transfer between banks
- Fla. Stat. § 674.207Transfer warranties
- Fla. Stat. § 674.2081Presentment warranties
- Fla. Stat. § 674.2091Encoding and retention warranties
- Fla. Stat. § 674.2101Security interest of collecting bank in items, accompanying documents, and proceeds1 cite
- Fla. Stat. § 674.2111When bank gives value for purposes of holder in due course
- Fla. Stat. § 674.2121Presentment by notice of item not payable by, through, or at a bank; liability of drawer or indorser
- Fla. Stat. § 674.2131Medium and time of settlement by bank
- Fla. Stat. § 674.2141Right of charge-back or refund; liability of collecting bank; return of item
- Fla. Stat. § 674.215Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal
- Fla. Stat. § 674.216Insolvency and preference
- Fla. Stat. § 674.301Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank
- Fla. Stat. § 674.302Payor bank’s responsibility for late return of item
- Fla. Stat. § 674.303When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified
- Fla. Stat. § 674.401When bank may charge customer’s account1 cite
- Fla. Stat. § 674.402Bank’s liability to customer for wrongful dishonor; time of determining insufficiency of account
- Fla. Stat. § 674.403Customer’s right to stop payment; burden of proof of loss1 cite
- Fla. Stat. § 674.404Bank not obliged to pay check more than 6 months old
- Fla. Stat. § 674.405Death or incompetence of customer
- Fla. Stat. § 674.406Customer’s duty to discover and report unauthorized signature or alteration4 cites
- Fla. Stat. § 674.407Payor bank’s right to subrogation on improper payment
- Fla. Stat. § 674.501Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
- Fla. Stat. § 674.502Presentment of “on arrival” drafts
- Fla. Stat. § 674.503Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
- Fla. Stat. § 674.504Privilege of presenting bank to deal with goods; security interest for expenses
Enacted in other states
Alaska, Alabama, Arkansas, Arizona, California, Colorado, District of Columbia, Delaware, Florida, Florida, Florida, Florida, Florida, Florida, Florida, Florida, Florida, Georgia, Hawaii, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Maryland, Maine, Mississippi, Montana, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, Nevada, Nevada, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia
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