§3-1412. 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: [PL 1993, c. 293, Pt. A, §2 (NEW).]
(1). 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
[PL 1993, c. 293, Pt. A, §2 (NEW).]
(2). If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 3‑1115 and 3‑1407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 3‑1415.
[PL 1993, c. 293, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 1993, c. 293, §A2 (NEW).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS
11 §3-1402. Signature by representative
11 §3-1403. Unauthorized signature
11 §3-1404. Impostors; fictitious payees
11 §3-1405. Employer's responsibility for fraudulent indorsement by employee
11 §3-1406. Negligence contributing to forged signature or alteration of instrument
11 §3-1408. Drawee not liable on unaccepted draft
11 §3-1409. Acceptance of draft; certified check
11 §3-1410. Acceptance varying draft
11 §3-1411. Refusal to pay cashier's checks, teller's checks and certified checks
11 §3-1412. Obligation of issuer of note or cashier's check
11 §3-1413. Obligation of acceptor
11 §3-1414. Obligation of drawer
11 §3-1415. Obligation of indorser
11 §3-1416. Transfer warranties
11 §3-1417. Presentment warranties
11 §3-1418. Payment or acceptance by mistake