28-3-412. 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 (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 sections 28-3-115 and 28-3-407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 28-3-415.
History:
[28-3-412, added 1993, ch. 288, sec. 2, p. 1043.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 3 - UNIFORM COMMERCIAL CODE — NEGOTIABLE INSTRUMENTS
Section 28-3-402 - SIGNATURE BY REPRESENTATIVE.
Section 28-3-403 - UNAUTHORIZED SIGNATURE.
Section 28-3-404 - IMPOSTORS — FICTITIOUS PAYEES.
Section 28-3-405 - EMPLOYER’S RESPONSIBILITY FOR FRAUDULENT INDORSEMENT BY EMPLOYEE.
Section 28-3-406 - NEGLIGENCE CONTRIBUTING TO FORGED SIGNATURE OR ALTERATION OF INSTRUMENT.
Section 28-3-407 - ALTERATION.
Section 28-3-408 - DRAWEE NOT LIABLE ON UNACCEPTED DRAFT.
Section 28-3-409 - ACCEPTANCE OF DRAFT — CERTIFIED CHECK.
Section 28-3-410 - ACCEPTANCE VARYING DRAFT.
Section 28-3-411 - REFUSAL TO PAY CASHIER’S CHECKS, TELLER’S CHECKS, AND CERTIFIED CHECKS.
Section 28-3-412 - OBLIGATION OF ISSUER OF NOTE OR CASHIER’S CHECK.
Section 28-3-413 - OBLIGATION OF ACCEPTOR.
Section 28-3-414 - OBLIGATION OF DRAWER.
Section 28-3-415 - OBLIGATION OF INDORSER.
Section 28-3-416 - TRANSFER WARRANTIES.
Section 28-3-417 - PRESENTMENT WARRANTIES.
Section 28-3-418 - PAYMENT OR ACCEPTANCE BY MISTAKE.