Cal. Commercial Code § 4504

California · California Commercial Code · Status: effective · Effective 1993-01-01

Cite this

Citation: Cal. Commercial Code § 4504, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/790467
Permanent ID: ys:prov:790467@1
SHA-256: f248335652729daf15fa896036f0868bc467019fe1a1c16b3387db90e2806150

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

(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 subdivision (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.