§ 47-4-501 Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
§ 47-4-502 Presentment of “on arrival” drafts
§ 47-4-503 Responsibility of presenting bank for documents and goods – Report of reasons for dishonor – Referee in case of need
§ 47-4-504 Privilege of presenting bank to deal with goods – Security interest for expenses
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Terms Used In Tennessee Code > Title 47 > Chapter 4 > Part 5 - Collection of Documentary Drafts

  • Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Tennessee Code 47-4-104
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (§. See Tennessee Code 47-4-104
  • Draft: means a draft as defined in §. See Tennessee Code 47-4-104
  • Drawee: means a person ordered in a draft to make payments. See Tennessee Code 47-4-104
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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.