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Can you summarize MNST 336.3-408?

UNIFORM COMMERCIAL CODE > DRAWEE NOT LIABLE ON UNACCEPTED DRAFT.

Short Summary

336.3-408 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-408 DRAWEE NOT LIABLE ON UNACCEPTED DRAFT.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 it. History: 1992 c 565 s 48

Jurisdiction

Minnesota

Source
MNST 336.3-408 [https://reggi.cloud.regology.com/regulations/US-MNST/US-MNST_T_324_C_336_S_3-408]