Washington Revised Code Title 62A. Uniform Commercial Code § 62A.4-504. Privilege of presenting bank to deal with goods; security interest for expenses
Current as of April 06, 2022 | Updated by FindLaw Staff
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(a) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner.
(b) For its reasonable expenses incurred by action under subsection (a) the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller's lien.
Cite this article: FindLaw.com - Washington Revised Code Title 62A. Uniform Commercial Code § 62A.4-504. Privilege of presenting bank to deal with goods; security interest for expenses - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-62a-uniform-commercial-code/wa-rev-code-62a-4-504/
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