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This entry was published on 2014-09-22
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SECTION 3-410
Definition and Operation of Acceptance
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 3, PART 4
Section 3--410. Definition and Operation of Acceptance.

(1) Acceptance is the drawee's signed engagement to honor the draft as
presented. It must be written on the draft, and may consist of his
signature alone. It becomes operative when completed by delivery or
notification.

(2) A draft may be accepted although it has not been signed by the
drawer or is otherwise incomplete or is overdue or has been dishonored.

(3) Where the draft is payable at a fixed period after sight and the
acceptor fails to date his acceptance the holder may complete it by
supplying a date in good faith.