§ 6A-3-412 - Obligation of issuer of note or cashier's check. - Rhode-island Statutes

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SECTION 6A-3-412

§ 6A-3-412 Obligation of issuer of note orcashier's check. – The issuer of a note or cashier's check or other draft drawn on the drawer isobliged to pay the instrument (i) according to its terms at the time it wasissued or, if not issued, at the time it first came into possession of aholder, or (ii) if the issuer signed an incomplete instrument, according to itsterms when completed, to the extent stated in §§ 6A-3-115 and6A-3-407. The obligation is owed to a person entitled to enforce the instrumentor to an indorser who paid the instrument under § 6A-3-415.

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-412

SECTION 6A-3-412

§ 6A-3-412 Obligation of issuer of note orcashier's check. – The issuer of a note or cashier's check or other draft drawn on the drawer isobliged to pay the instrument (i) according to its terms at the time it wasissued or, if not issued, at the time it first came into possession of aholder, or (ii) if the issuer signed an incomplete instrument, according to itsterms when completed, to the extent stated in §§ 6A-3-115 and6A-3-407. The obligation is owed to a person entitled to enforce the instrumentor to an indorser who paid the instrument under § 6A-3-415.

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State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-3 > 6a-3-412

SECTION 6A-3-412

§ 6A-3-412 Obligation of issuer of note orcashier's check. – The issuer of a note or cashier's check or other draft drawn on the drawer isobliged to pay the instrument (i) according to its terms at the time it wasissued or, if not issued, at the time it first came into possession of aholder, or (ii) if the issuer signed an incomplete instrument, according to itsterms when completed, to the extent stated in §§ 6A-3-115 and6A-3-407. The obligation is owed to a person entitled to enforce the instrumentor to an indorser who paid the instrument under § 6A-3-415.