Conn. Gen. Stat. § 42a-3-408

Current with legislation from the 2024 Regular and Special Sessions.
Section 42a-3-408 - Drawee not liable on unaccepted draft

A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

Conn. Gen. Stat. § 42a-3-408

(1959, P.A. 133, S. 3-408; P.A. 91-304, S. 45.)

Instrument negotiable in form is deemed prima facie issued for valuable consideration and burden of proving absence or failure of same is on defendant. 149 C. 558. Cited. 151 C. 566. Party asserting lack of consideration has burden of establishing it by preponderance of the evidence. Id., 606. Cited. 240 Conn. 10. Cited. 1 Conn.App. 162. Broker is entitled to his commission when he has produced customer ready, able and willing to purchase; hence plaintiff's threat he would not go through with sale and defendant broker would lose her commission unless she signed note he is now suing her on, was no consideration for note. 4 Conn. Cir. Ct. 665.

See Sec. 42a-3-303(b) for successor provisions to Sec. 42a-3-408, revised to 1991, re consideration.