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Can you summarize NVRS 104.3409?
Uniform Commercial CodeOriginal Articles > Acceptance of draft; certified check.
Short Summary
This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the acceptance of drafts and certified checks. It defines acceptance as the drawee’s signed agreement to pay a draft and specifies that acceptance can be made at any time. The document also clarifies that a draft may be accepted even if it is incomplete, overdue, or has been dishonored. Additionally, it explains that if a draft is payable at a fixed period after sight and the acceptor fails to date the acceptance, the holder may complete the acceptance by supplying a date in good faith. Furthermore, the document defines a certified check as a check accepted by the bank on which it is drawn and explains that acceptance can be made through a writing on the check indicating certification. It emphasizes that the drawee of a check has no obligation to certify it, and refusal to certify does not constitute dishonor of the check.
Whom does it apply to?
Drawees, holders of drafts, banks
What does it govern?
Acceptance of draft; certified check
What are exemptions?
No exemptions are mentioned
What are the Penalties?
No penalties are mentioned
Jurisdiction
Nevada