A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.
(Code 1981, §11-3-408, enacted by Ga. L. 1996, p. 1306, § 3.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 6 Am. Jur. 2d, Attachment and Garnishment, § 507. 11 Am. Jur. 2d, Banks and Financial Institutions, § 888. 11 Am. Jur. 2d, Bills and Notes, §§ 140, 382. 12 Am. Jur. 2d, Bills and Notes, §§ 487, 488. 38 Am. Jur. 2d, Gifts, § 59.
C.J.S.- 6A C.J.S., Assignments, § 60. 10 C.J.S., Bills and Notes, §§ 19, 21.
U.L.A.- Uniform Commercial Code (U.L.A.) § 3-408.
ALR.
- Right of transferee of postdated check, 21 A.L.R. 234.