Alaska Statutes
Alaska Stat. § 45.03.408 (2026)
Drawee not liable on unaccepted draft
✓ current as of July 2026
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Sec. 45.03.408. Drawee not liable on unaccepted draft.
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 the instrument.
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 the instrument.
Notes of Decisions
Cited in 1
case, 1992–1992 · leading case: Nat'l Bank of Alaska v. Univentures 1231, 824 P.2d 1377 (Alaska 1992).
Nat'l Bank of Alaska v. Univentures 1231, 824 P.2d 1377 (Alaska 1992). “the person has the rights of a holder in due course, a person takes the instrument subject to (1) all valid claims to it on the part of any person; (2) all defenses of a party which would be available in an action on a simple contract; (3) the defenses of want or failure of…”
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