Cal. COM § 4502
This is the official text of Cal. COM § 4502, part of California’s Commercial Code — california's version of the Uniform Commercial Code, governing sales, negotiable instruments, and secured transactions.
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Official statutory 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 shall 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.
Status: in_force · Read it on the official government site
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