Section 7-4A-211 – Cancellation and Amendment of Payment Order.
Section 7-4A-211 Cancellation and amendment of payment order. (a) A communication of the sender of a payment order cancelling or amending the order may be transmitted to the receiving bank orally, electronically, or in writing. If a security procedure is in effect between the sender and the receiving bank, the communication is not effective to […]
Section 7-4A-212 – Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order.
Section 7-4A-212 Liability and duty of receiving bank regarding unaccepted payment order. If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this article, but does not otherwise […]