57A-3-412 Obligation of issuer of note or cashier's check.
Obligation of issuer of note or cashier's check.
The issuer of a note or cashier's
check or other draft drawn on the drawer is obliged to pay the instrument (i) according to its terms
at the time it was issued or, if not issued, at the time it first came into possession of a holder, or (ii)
if the issuer signed an incomplete instrument, according to its terms when completed, to the extent
stated in §§ 57A-3-115 and 57A-3-407. The obligation is owed to a person entitled to enforce the
instrument or to an indorser who paid the instrument under § 57A-3-415.
Source: SL 1994, ch 367, § 3-412.