Privilege of presenting bank to deal with goods; security interest for expenses.

Del. Code tit. 6, § 4-504
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(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.
Source: DE Code (Official Site)URL: https://delcode.delaware.gov/title6/c004/sc05/index.htmlFetched: 10/4/2026