Tennessee Code Annotated
Tenn. Code Ann. § 47-4-501 (2026)
Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
✓ current as of May 2026
A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.
Acts 1963, ch. 81, § 1 (4-501); 1995, ch. 397, § 3.
Notes of Decisions
Cited in 1
case, 1983–1983 · leading case: Memphis Aero Corp. v. First Am. Nat'l Bank, 647 S.W.2d 219 (Tenn. 1983).
Memphis Aero Corp. v. First Am. Nat'l Bank, 647 S.W.2d 219 (Tenn. 1983). “T.C.A. § 47-4-501. Unless otherwise instructed, a bank presenting a documentary draft must deliver the documents “to the drawee” on acceptance of the draft if payable more than three days after presentment or, otherwise, only on payment.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.