25-3-412. 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 G.S. 25-3-115 and G.S. 25-3-407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under G.S. 25-3-415. (1899, c. 733, ss. 60 to 62; Rev., ss. 2209 to 2211; C.S., ss. 3041 to 3043; 1965, c. 700, s. 1; 1995, c. 232, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 25 - Uniform Commercial Code
Article 3 - Negotiable Instruments.
§ 25-3-104 - Negotiable instrument.
§ 25-3-105 - Issue of instrument.
§ 25-3-106 - Unconditional promise or order.
§ 25-3-107 - Instrument payable in foreign money.
§ 25-3-108 - Payable on demand or at definite time.
§ 25-3-109 - Payable to bearer or to order.
§ 25-3-110 - Identification of person to whom instrument is payable.
§ 25-3-111 - Place of payment.
§ 25-3-113 - Date of instrument.
§ 25-3-114 - Contradictory terms of instrument.
§ 25-3-115 - Incomplete instrument.
§ 25-3-116 - Joint and several liability; contribution.
§ 25-3-117 - Other agreements affecting instrument.
§ 25-3-118 - Statute of limitations.
§ 25-3-119 - Notice of right to defend action.
§ 25-3-202 - Negotiation subject to rescission.
§ 25-3-203 - Transfer of instrument; rights acquired by transfer.
§ 25-3-205 - Special indorsement; blank indorsement; anomalous indorsement.
§ 25-3-206 - Restrictive indorsement.
§ 25-3-301 - Person entitled to enforce instrument.
§ 25-3-302 - Holder in due course.
§ 25-3-303 - Value and consideration.
§ 25-3-304 - Overdue instrument.
§ 25-3-305 - Defenses and claims in recoupment.
§ 25-3-306 - Claims to an instrument.
§ 25-3-307 - Notice of breach of fiduciary duty.
§ 25-3-308 - Proof of signatures and status as holder in due course.
§ 25-3-309 - Enforcement of lost, destroyed, or stolen instrument.
§ 25-3-310 - Effect of instrument on obligation for which taken.
§ 25-3-311 - Accord and satisfaction by use of instrument.
§ 25-3-312 - Lost, destroyed, or stolen cashier's check, teller's check, or certified check.
§ 25-3-402 - Signature by representative.
§ 25-3-403 - Unauthorized signature.
§ 25-3-404 - Impostors; fictitious payees.
§ 25-3-405 - Employer's responsibility for fraudulent indorsement by employee.
§ 25-3-406 - Negligence contributing to forged signature or alteration of instrument.
§ 25-3-408 - Drawee not liable on unaccepted draft.
§ 25-3-409 - Acceptance of draft; certified check.
§ 25-3-410 - Acceptance varying draft.
§ 25-3-411 - Refusal to pay cashier's checks, teller's checks, and certified checks.
§ 25-3-412 - Obligation of issuer of note or cashier's check.
§ 25-3-413 - Obligation of acceptor.
§ 25-3-414 - Obligation of drawer.
§ 25-3-415 - Obligation of indorser.
§ 25-3-416 - Transfer warranties.
§ 25-3-417 - Presentment warranties.
§ 25-3-418 - Payment or acceptance by mistake.
§ 25-3-419 - Instruments signed for accommodation.
§ 25-3-420 - Conversion of instrument.
§ 25-3-503 - Notice of dishonor.
§ 25-3-504 - Excused presentment and notice of dishonor.
§ 25-3-505 - Evidence of dishonor.
§ 25-3-506 - Collection of processing fee for returned checks.
§ 25-3-601 - Discharge and effect of discharge.
§ 25-3-603 - Tender of payment.
§ 25-3-604 - Discharge by cancellation or renunciation.
§ 25-3-605 - Discharge of indorsers and accommodation parties.