{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.4A-303.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.4A-303.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.4A-303.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.4A-303.html"}],"law_id":84794,"edition_id":1,"section_id":84794,"structure_id":15670,"section_number":"8.4A-303","catch_line":"Erroneous execution of payment order","history":"1990, c. 9.","full_text":"a\n\nA receiving bank that (i) executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the sender’s order, or (ii) issues a payment order in execution of the sender’s order and then issues a duplicate order, is entitled to payment of the amount of the sender’s order under subsection (c) of § 8.4A-402 if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order the excess payment received to the extent allowed by the law governing mistake and restitution.b\n\nA receiving bank that executes the payment order of the sender by issuing a payment order in an amount less than the amount of the sender’s order is entitled to a payment of the amount of the sender’s order under subsection (c) of § 8.4A-402 if (i) that subsection is otherwise satisfied and (ii) the bank corrects its mistake by issuing an additional payment order for the benefit of the beneficiary of the sender’s order. If the error is not corrected, the issuer of the erroneous order is entitled to receive or retain payment from the sender of the order it accepted only to the extent of the amount of the erroneous order. This subsection does not apply if the receiving bank executes the sender’s payment order by issuing a payment order in an amount less than the amount of the sender’s order for the purpose of obtaining payment of its charges for services and expenses pursuant to instruction of the sender.c\n\nIf a receiving bank executes the payment order of the sender by issuing a payment order to a beneficiary different from the beneficiary of the sender’s order and the funds transfer is completed on the basis of that error, the sender of the payment order that was erroneously executed and all previous senders in the funds transfer are not obliged to pay the payment orders they issued. The issuer of the erroneous order is entitled to recover from the beneficiary of the order the payment received to the extent allowed by the law governing mistake and restitution.","order_by":null,"text":{"0":{"id":303812,"text":"A receiving bank that (i) executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the sender’s order, or (ii) issues a payment order in execution of the sender’s order and then issues a duplicate order, is entitled to payment of the amount of the sender’s order under subsection (c) of § 8.4A-402 if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order the excess payment received to the extent allowed by the law governing mistake and restitution.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":303813,"text":"A receiving bank that executes the payment order of the sender by issuing a payment order in an amount less than the amount of the sender’s order is entitled to a payment of the amount of the sender’s order under subsection (c) of § 8.4A-402 if (i) that subsection is otherwise satisfied and (ii) the bank corrects its mistake by issuing an additional payment order for the benefit of the beneficiary of the sender’s order. If the error is not corrected, the issuer of the erroneous order is entitled to receive or retain payment from the sender of the order it accepted only to the extent of the amount of the erroneous order. This subsection does not apply if the receiving bank executes the sender’s payment order by issuing a payment order in an amount less than the amount of the sender’s order for the purpose of obtaining payment of its charges for services and expenses pursuant to instruction of the sender.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"c"},"2":{"id":303814,"text":"If a receiving bank executes the payment order of the sender by issuing a payment order to a beneficiary different from the beneficiary of the sender’s order and the funds transfer is completed on the basis of that error, the sender of the payment order that was erroneously executed and all previous senders in the funds transfer are not obliged to pay the payment orders they issued. The issuer of the erroneous order is entitled to recover from the beneficiary of the order the payment received to the extent allowed by the law governing mistake and restitution.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b"}},"ancestry":[{"id":15670,"edition_id":1,"name":"Execution of Sender's Payment Order by Receiving Bank","identifier":"3","label":"part","depth":2,"order_by":1,"parent_id":13362,"metadata":{},"date_created":"2026-06-26 03:57:39","date_modified":"2026-06-26 03:57:39","permalink":{"id":283273,"object_type":"structure","relational_id":15670,"identifier":"3","token":"8.4A\/3","url":"\/8.4A\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13362,"edition_id":1,"name":"Commercial Code \u2014 Funds Transfers","identifier":"8.4A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:42","date_modified":"2026-06-26 03:44:42","permalink":{"id":283187,"object_type":"structure","relational_id":13362,"identifier":"8.4A","token":"8.4A","url":"\/8.4A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59952,"structure_id":15670,"section_number":"8.4A-301","catch_line":"Execution and execution date","url":"\/8.4A-301\/","token":"8.4A\/3\/8.4A-301","metadata":false},{"id":62619,"structure_id":15670,"section_number":"8.4A-302","catch_line":"Obligations of receiving bank in execution of payment order","url":"\/8.4A-302\/","token":"8.4A\/3\/8.4A-302","metadata":false},{"id":84794,"structure_id":15670,"section_number":"8.4A-303","catch_line":"Erroneous execution of payment order","url":"\/8.4A-303\/","token":"8.4A\/3\/8.4A-303","metadata":false},{"id":63931,"structure_id":15670,"section_number":"8.4A-304","catch_line":"Duty of sender to report erroneously executed payment order","url":"\/8.4A-304\/","token":"8.4A\/3\/8.4A-304","metadata":false},{"id":75010,"structure_id":15670,"section_number":"8.4A-305","catch_line":"Liability for late or improper execution or failure to execute payment order","url":"\/8.4A-305\/","token":"8.4A\/3\/8.4A-305","metadata":false}],"previous_section":{"id":62619,"structure_id":15670,"section_number":"8.4A-302","catch_line":"Obligations of receiving bank in execution of payment order","url":"\/8.4A-302\/","token":"8.4A\/3\/8.4A-302","metadata":false},"next_section":{"id":63931,"structure_id":15670,"section_number":"8.4A-304","catch_line":"Duty of sender to report erroneously executed payment order","url":"\/8.4A-304\/","token":"8.4A\/3\/8.4A-304","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4A-303\/","history_text":"

This law was first created in 1990. The record of its establishment is cataloged in chapter 9 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 1990 \u201cActs\u201d aren\u2019t available online.<\/p>","references":[{"id":63931,"section_number":"8.4A-304","catch_line":"Duty of sender to report erroneously executed payment order","order_by":null,"url":"\/8.4A-304\/"},{"id":81579,"section_number":"8.4A-402","catch_line":"Obligation of sender to pay receiving bank","order_by":null,"url":"\/8.4A-402\/"}],"refers_to":[{"id":81579,"section_number":"8.4A-402","catch_line":"Obligation of sender to pay receiving bank","order_by":null,"url":"\/8.4A-402\/"}],"permalink":{"id":283283,"object_type":"law","relational_id":84794,"identifier":"8.4A-303","token":"8.4A\/3\/8.4A-303","url":"\/8.4A-303\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.4A-303\/","token":"8.4A\/3\/8.4A-303","dublin_core":{"Title":"Erroneous execution of payment order","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4A-303","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> A receiving bank that (i) executes the payment order<\/span> of the sender by issuing a payment order<\/span> in an amount greater than the amount of the sender’s order<\/span>, or (ii) issues<\/span> a payment order<\/span> in execution of the sender’s order<\/span> and then issues<\/span> a duplicate order<\/span>, is entitled to payment of the amount of the sender’s order<\/span> under subsection (c) of § 8.4A-402<\/a> if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order<\/span> the excess payment received to the extent allowed by the law<\/span> governing mistake and restitution<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> A receiving bank that executes the payment order<\/span> of the sender by issuing a payment order<\/span> in an amount less than the amount of the sender’s order<\/span> is entitled to a payment of the amount of the sender’s order<\/span> under subsection (c) of § 8.4A-402<\/a> if (i) that subsection is otherwise satisfied and (ii) the bank corrects its mistake by issuing an additional payment order<\/span> for the benefit of the beneficiary of the sender’s order<\/span>. If the error is not corrected, the issuer of the erroneous order<\/span> is entitled to receive or retain payment from the sender of the order<\/span> it accepted only to the extent of the amount of the erroneous order<\/span>. This subsection does not apply if the receiving bank executes the sender’s payment order<\/span> by issuing a payment order<\/span> in an amount less than the amount of the sender’s order<\/span> for the purpose of obtaining payment of its charges for services and expenses pursuant to instruction of the sender. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> If a receiving bank executes the payment order<\/span> of the sender by issuing a payment order<\/span> to a beneficiary different from the beneficiary of the sender’s order<\/span> and the funds transfer<\/span> is completed on the basis of that error, the sender of the payment order<\/span> that was erroneously executed and all previous senders in the funds transfer<\/span> are not obliged to pay the payment orders<\/span> they issued. The issuer of the erroneous order<\/span> is entitled to recover from the beneficiary of the order<\/span> the payment received to the extent allowed by the law<\/span> governing mistake and restitution<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nERRONEOUS EXECUTION OF PAYMENT ORDER (\u00a7 8.4A-303)\n\na. A receiving bank that (i) executes the payment order of the sender by issuing\na payment order in an amount greater than the amount of the sender’s\norder, or (ii) issues a payment order in execution of the sender’s order\nand then issues a duplicate order, is entitled to payment of the amount of the\nsender’s order under subsection (c) of § 8.4A-402 if that subsection\nis otherwise satisfied. The bank is entitled to recover from the beneficiary of\nthe erroneous order the excess payment received to the extent allowed by the law\ngoverning mistake and restitution.\n\nb. A receiving bank that executes the payment order of the sender by issuing a\npayment order in an amount less than the amount of the sender’s order is\nentitled to a payment of the amount of the sender’s order under subsection\n(c) of § 8.4A-402 if (i) that subsection is otherwise satisfied and (ii)\nthe bank corrects its mistake by issuing an additional payment order for the\nbenefit of the beneficiary of the sender’s order. If the error is not\ncorrected, the issuer of the erroneous order is entitled to receive or retain\npayment from the sender of the order it accepted only to the extent of the\namount of the erroneous order. This subsection does not apply if the receiving\nbank executes the sender’s payment order by issuing a payment order in an\namount less than the amount of the sender’s order for the purpose of\nobtaining payment of its charges for services and expenses pursuant to\ninstruction of the sender.\n\nc. If a receiving bank executes the payment order of the sender by issuing a\npayment order to a beneficiary different from the beneficiary of the\nsender’s order and the funds transfer is completed on the basis of that\nerror, the sender of the payment order that was erroneously executed and all\nprevious senders in the funds transfer are not obliged to pay the payment orders\nthey issued. The issuer of the erroneous order is entitled to recover from the\nbeneficiary of the order the payment received to the extent allowed by the law\ngoverning mistake and restitution.\n\nHISTORY: 1990, c. 9.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}