Montana Code 30-3-410. Acceptance of draft — certified check
30-3-410. Acceptance of draft — certified check. (1) “Acceptance” means the drawee‘s signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee’s signature alone. Acceptance may be made at any time and becomes effective when notification pursuant to instructions is given or the accepted draft is delivered for the purpose of giving rights on the acceptance to any person.
Terms Used In Montana Code 30-3-410
- Acceptor: means a drawee that has accepted a draft. See Montana Code 30-3-102
- Drawee: means a person ordered in a draft to make payment. See Montana Code 30-3-102
- Drawer: means a person that signs a draft as a person ordering payment. See Montana Code 30-3-102
- Good faith: means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Montana Code 30-3-102
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Writing: includes printing. See Montana Code 1-1-203
(2)A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete, is overdue, or has been dishonored.
(3)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.
(4)”Certified check” means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection (1) or by a writing on the check that indicates that the check is certified. The drawee of a check has no obligation to certify the check, and refusal to certify is not dishonor of the check.