New Jersey Statutes - Title 12A Commercial Transactions - 12A:3-412 Obligation of issuer of note or cashier's check
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New Jersey Laws > Commercial Transactions > New Jersey Statutes - Title 12A Commercial Transactions - 12A:3-412 Obligation of issuer of note or cashier's check
12A:3-412. 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 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 if the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in 12A:3-115 and 12A:3-407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under 12A:3-415.
L.1995,c.28,s.1.
Sections: 3-405 3-406 3-407 3-408 3-409 3-410 3-411 3-412 3-413 3-414 3-415 3-416 3-417 3-418 3-419
Last modified: February 13, 2012
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