California Commercial Code Section 3412
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California Laws > Commercial Code > California Commercial Code Section 3412
3412. The issuer of a note or cashier's check or other draft drawn
on the drawer is obliged to pay the instrument (a) 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 (b) if the issuer signed
an incomplete instrument, according to its terms when completed, to
the extent stated in Sections 3115 and 3407. The obligation is owed
to a person entitled to enforce the instrument or to an indorser who
paid the instrument under Section 3415.
Section: 3412
Last modified: February 22, 2013
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