2010 Georgia Code 11-4a-212 Case Law
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One Click Case Law for § 11-4a-212
O.C.G.A. § 11-4a-211 <-- --> O.C.G.A. §11-4a-301



2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 4A - FUNDS TRANSFERS
PART 2 - ISSUE AND ACCEPTANCE OF PAYMENT ORDER
§ 11-4A-212 - Liability and duty of receiving bank regarding unaccepted payment order

O.C.G.A. 11-4A-212 (2010)
11-4A-212. Liability and duty of receiving bank regarding unaccepted payment order


If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this article, but does not otherwise have any duty to accept a payment order or, before acceptance, to take any action, or refrain from taking action, with respect to the order except as provided in this article or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in Code Section 11-4A-209, and liability is limited to that provided in this article. A receiving bank is not the agent of the sender or beneficiary of the payment order it accepts, or of any other party to the funds transfer, and the bank owes no duty to any party to the funds transfer except as provided in this article or by express agreement.

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Graham W. Syfert, Esq., P.A.
Phone: 904-383-7448
Fax: 904-638-4726

graham@syfert.com