RCW 62A.4-504
105 words·~1 min read·
/wa/title-62a/chapter-62a-4/62a-4-504·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner.
(b)For its reasonable expenses incurred by action under subsection
(a)the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller's lien.
[ 1993 c 229 s 116 ; 1965 ex.s. c 157 s 4-504.]
Notes:
Recovery of attorneys' fees — Effective date — 1993 c 229: See RCW 62A.11-111 and 62A.11-112 .