The issuer of a note, 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; if the issuer signed an incomplete instrument, the issuer is obligated to pay the instrument according to its terms when completed, to the extent stated in AS 45.03.115 and 45.03.407. The obligation is owed to a person entitled to enforce the instrument or to an endorser who paid the instrument under AS 45.03.415.
Structure Alaska Statutes
Chapter 03. Negotiable Instruments
Article 4. Liability of Parties.
Sec. 45.03.402. Signature by representative.
Sec. 45.03.403. Unauthorized signature.
Sec. 45.03.404. Impostors; fictitious payees.
Sec. 45.03.405. Employer's responsibility for fraudulent endorsement by employee.
Sec. 45.03.406. Negligence contributing to forged signature or alteration of instrument.
Sec. 45.03.408. Drawee not liable on unaccepted draft.
Sec. 45.03.409. Acceptance of draft; certified check.
Sec. 45.03.410. Acceptance varying draft.
Sec. 45.03.411. Refusal to pay cashier's checks, teller's checks, and certified checks.
Sec. 45.03.412. Obligation of issuer of note or cashier's check.
Sec. 45.03.413. Obligation of acceptor.
Sec. 45.03.414. Obligation of drawer.
Sec. 45.03.415. Obligation of endorser.
Sec. 45.03.416. Transfer warranties.
Sec. 45.03.417. Presentment warranties.
Sec. 45.03.418. Payment or acceptance by mistake.