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Code · Michigan · Chapter 440 — Uniform Commercial Code

440.2514 Documents; delivery to drawee on acceptance or payment.

55 words·~1 min read·/mi/chapter-440/440-2514

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440.2514 Documents; delivery to drawee on acceptance or payment.
Sec. 2514.
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 3 days after presentment; otherwise, only on payment.
History: 1962, Act 174, Eff. Jan. 1, 1964
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