Tennessee § 47-3-408 - Drawee not liable on unaccepted draft.
Full text of Tennessee Tennessee Code Annotated § 47-3-408 — Drawee not liable on unaccepted draft., with citation guidance and answers to common questions.
§ 47-3-408. 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. Acts 1995, ch. 397, § 2. Prior Tennessee Law: §§ 47-302, 47-406, 47-3-409. Textbooks. Tennessee Jurisprudence, 6 Tenn. Juris., Commercial Law, § 73; 14 Tenn. Juris., Gifts, §§ 4, 12.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-3-408
What does Tennessee Code Annotated § 47-3-408 cover?
Section 47-3-408 ("Drawee not liable on unaccepted draft.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 47-3-408?
A common citation format is "Tennessee Code Annotated § 47-3-408" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-3-408 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.