Colorado Revised Statutes

Colo. Rev. Stat. § 4-3-410 (2026)

Acceptance of varying draft

✓ current as of July 2026

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(a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as dishonored. In that case, the drawee may cancel the acceptance.

(b) The terms of a draft are not varied by an acceptance to pay at a particular bank or place in the United States, unless the acceptance states that the draft is to be paid only at that bank or place.

(c) If the holder assents to an acceptance varying the terms of a draft, the obligation of each drawer and indorser that does not expressly assent to the acceptance is discharged. Source: L. 94: Entire article R&RE, p. 866, § 1, effective January 1, 1995.

Editor's note: This section is similar to former § 4-3-412 as it existed prior to 1994.

Notes of Decisions

Cited in 1 case, 1990–1990 · leading case: First Nat'l Bank v. Ford Motor Credit Co., 748 F. Supp. 1464 (D. Colo. 1990).

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First Nat'l Bank v. Ford Motor Credit Co., 748 F. Supp. 1464 (D. Colo. 1990). · cites it 4× “UCC § 3-410(1), Colo.Rev.Stat. § 4-3-410(1) (1973) (“Acceptance is the drawee’s signed engagement to honor the draft as presented.”

— Colo. Rev. Stat. § 4-3-410(1) — 1 case

First Nat'l Bank v. Ford Motor Credit Co., 748 F. Supp. 1464 (D. Colo. 1990). “UCC § 3-410(1), Colo.Rev.Stat. § 4-3-410(1) (1973) (“Acceptance is the drawee’s signed engagement to honor the draft as presented.”

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