HRS 0490-0004-0501 ANNOTATIONS

Prior Uniform Statutory Provision: None.

Purposes:

To state the duty of a bank handling a documentary draft for a customer. "Documentary draft" is defined in Section 4-104. Notice that the duty stated exists even when the bank has bought the draft. This is because to the customer the draft normally represents an underlying commercial transaction, and if that is not going through as planned he should know it promptly.

Cross References:

In Article 4: Sections 4-201, 4-202, 4-203, 4-204 and 4-210.

In Article 5: Sections 5-110, 5-111, 5-112 and 5-113.

Definitional Cross References:

"Documentary draft". Sections 4-104, 5-103.