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 have any duty
to accept a payment order or, before acceptance, to take any action, or refrain from
taking action, with respect to the order except as provided in this article or by
express agreement. Liability based on acceptance arises only when acceptance occurs as stated in K.S.A. 84-4a-209 and liability is limited to that provided in this article. A receiving bank is not the agent of the sender or beneficiary of the payment order
it accepts, or of any other party to the funds transfer, and the bank owes no duty
to any party to the funds transfer except as provided in this article or by express
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.