Section 3--410. Definition and Operation of Acceptance  


Latest version.
  • (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.