North Dakota § 41-04-40 - (4-502) Presentment of on arrival drafts
Full text of North Dakota North Dakota Century Code § 41-04-40 — (4-502) Presentment of on arrival drafts, with citation guidance and answers to common questions.
§ 41-04-40. (4-502) Presentment of on arrival drafts
When a draft or the relevant instructions require presentment "on arrival", "when goods arrive", or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor. The bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 41-04-40
What does North Dakota Century Code § 41-04-40 cover?
Section 41-04-40 ("(4-502) Presentment of on arrival drafts") is part of the North Dakota Century Code, the codified statutory law of North Dakota. 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 North Dakota § 41-04-40?
A common citation format is "North Dakota Century Code § 41-04-40" (North Dakota). 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 North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 41-04-40 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota 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 North Dakota.