§ 674.502, Fla. Stat. · Part V. COLLECTION OF DOCUMENTARY DRAFTS
Presentment of “on arrival” drafts.
Text — 2026 Florida Statutes
If a draft or the relevant instructions require presentment “on arrival,” “when goods arrive,” or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.
Notes and commentary — not statutory text
History
s. 1, ch. 65-254; s. 46, ch. 92-82.
Note
Note.—s. 4-502, U.C.C.
Source of truth
- Edition
- 2026 Florida Statutes
- Official file
- https://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0674/0674.html
- Text hash
- sha256 57cedd23c75f10ccb626e1f87a4a7c1223d6f4c07b21e1ba901b647825b15c3f
- Composed by
- compose_v2.py 2026-10-04: the Legislature's structured HTML read in document order; verify_v2.py's independent reading agrees character for character
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