{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/8.4-502.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/8.4-502.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/8.4-502.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/8.4-502.html"}],"law_id":378200,"edition_id":2,"section_id":378200,"structure_id":53742,"section_number":"8.4-502","catch_line":"Presentment of “on arrival” drafts","history":"1964, c. 219; 1992, c. 693.","full_text":"If a draft or the relevant instructions require presentment “on arrival,” “when goods arrive” or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.\n\n","order_by":null,"text":{"0":{"id":1410901,"text":"If a draft or the relevant instructions require presentment “on arrival,” “when goods arrive” or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53742,"edition_id":2,"name":"Collection of Documentary Drafts","identifier":"5","label":"part","depth":2,"order_by":5,"parent_id":53737,"metadata":{"child_laws":4,"child_structures":0},"date_created":"2026-08-02 03:21:32","date_modified":"2026-08-02 12:28:33","permalink":{"id":1510171,"object_type":"structure","relational_id":53742,"identifier":"5","token":"8.4\/5","url":"\/8.4\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53737,"edition_id":2,"name":"Commercial Code \u2014 Bank Deposits and Collections","identifier":"8.4","label":"title","depth":1,"order_by":21,"parent_id":null,"metadata":{"child_laws":45,"child_structures":5},"date_created":"2026-08-02 03:21:27","date_modified":"2026-08-02 12:28:32","permalink":{"id":1509997,"object_type":"structure","relational_id":53737,"identifier":"8.4","token":"8.4","url":"\/8.4\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":378199,"structure_id":53742,"section_number":"8.4-501","catch_line":"Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor","url":"\/8.4-501\/","token":"8.4\/5\/8.4-501","metadata":false},{"id":378200,"structure_id":53742,"section_number":"8.4-502","catch_line":"Presentment of \"on arrival\" drafts","url":"\/8.4-502\/","token":"8.4\/5\/8.4-502","metadata":false},{"id":378201,"structure_id":53742,"section_number":"8.4-503","catch_line":"Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need","url":"\/8.4-503\/","token":"8.4\/5\/8.4-503","metadata":false},{"id":378202,"structure_id":53742,"section_number":"8.4-504","catch_line":"Privilege of presenting bank to deal with goods; security interest for expenses","url":"\/8.4-504\/","token":"8.4\/5\/8.4-504","metadata":false}],"previous_section":{"id":378199,"structure_id":53742,"section_number":"8.4-501","catch_line":"Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor","url":"\/8.4-501\/","token":"8.4\/5\/8.4-501","metadata":false},"next_section":{"id":378201,"structure_id":53742,"section_number":"8.4-503","catch_line":"Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need","url":"\/8.4-503\/","token":"8.4\/5\/8.4-503","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4-502\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1992, chapter 693.<\/p>","references":false,"refers_to":false,"permalink":{"id":1510177,"object_type":"law","relational_id":378200,"identifier":"8.4-502","token":"8.4\/5\/8.4-502","url":"\/8.4-502\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/8.4-502\/","token":"8.4\/5\/8.4-502","dublin_core":{"Title":"Presentment of “on arrival” drafts","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4-502","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

If a draft or the relevant instructions require presentment<\/span> “on arrival,” “when goods arrive” or the like, the collecting bank<\/span> need not present until in its judgment<\/span> a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPRESENTMENT OF “ON ARRIVAL” DRAFTS (\u00a7 8.4-502)\n\nIf a draft or the relevant instructions require presentment “on\narrival,” “when goods arrive” or the like, the collecting bank\nneed not present until in its judgment a reasonable time for arrival of the\ngoods has expired. Refusal to pay or accept because the goods have not arrived\nis not dishonor; the bank must notify its transferor of the refusal but need not\npresent the draft again until it is instructed to do so or learns of the arrival\nof the goods.\n\nHISTORY: 1964, c. 219; 1992, c. 693.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}