Nevada § 104A.4303 - Erroneous execution of payment order
Full text of Nevada Nevada Revised Statutes § 104A.4303 — Erroneous execution of payment order, with citation guidance and answers to common questions.
§ 104A.4303. Erroneous execution of payment order
1. A receiving bank that executes the payment order of the sender by issuing a payment
order in an amount greater than the amount of the sender's order, or issues a payment
order in execution of the sender's order and then issues a duplicate order, is entitled
to payment of the amount of the sender's order under subsection 3 of NRS 104A.4402 if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order the excess
payment received to the extent allowed by the law governing mistake and restitution. 2. A receiving bank that executes the payment order of the sender by issuing a payment
order in an amount less than the amount of the sender's order is entitled to payment
of the amount of the sender's order under subsection 3 of NRS 104A.4402 if that subsection is otherwise satisfied and the bank corrects its mistake by issuing
an additional payment order for the benefit of the beneficiary of the sender's order.
If the error is not corrected, the issuer of the erroneous order is entitled to receive
or retain payment from the sender of the order it accepted only to the extent of the
amount of the erroneous order. This subsection does not apply if the receiving bank executes the sender's payment
order by issuing a payment order in an amount less than the amount of the sender's
order for the purpose of obtaining payment of its charges for services and expenses
pursuant to instruction of the sender. 3. If a receiving bank executes the payment order of the sender by issuing a payment
order to a beneficiary different from the beneficiary of the sender's order and the
funds transfer is completed on the basis of that error, the sender of the payment
order that was erroneously executed and all previous senders in the funds transfer
are not obliged to pay the payment orders they issued. The issuer of the erroneous order is entitled to recover from the beneficiary of the
order the payment received to the extent allowed by the law governing mistake and
restitution.
Frequently Asked Questions About Nevada § 104A.4303
What does Nevada Revised Statutes § 104A.4303 cover?
Section 104A.4303 ("Erroneous execution of payment order") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 104A.4303?
A common citation format is "Nevada Revised Statutes § 104A.4303" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 104A.4303 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.