West Virginia § 46-4-502 - 46-4-502. Presentment of "on arrival" drafts.
Full text of West Virginia West Virginia Code § 46-4-502 — 46-4-502. Presentment of "on arrival" drafts., with citation guidance and answers to common questions.
§ 46-4-502. 46-4-502. Presentment of "on arrival" drafts.
If 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 West Virginia text · Last verified 2026-08-27
Frequently Asked Questions About West Virginia § 46-4-502
What does West Virginia Code § 46-4-502 cover?
Section 46-4-502 ("46-4-502. Presentment of "on arrival" drafts.") is part of the West Virginia Code, the codified statutory law of West Virginia. 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 West Virginia § 46-4-502?
A common citation format is "West Virginia Code § 46-4-502" (West Virginia). 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 West Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the West Virginia official source linked on this page or consult a licensed West Virginia attorney.
How does West Virginia § 46-4-502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in West Virginia 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 West Virginia.