Code of Virginia

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Code of Virginia
Title 8.3A. Commercial Code — Negotiable Instruments
Part 4. Liability of Parties
8/7/2022

§ 8.3A-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 §§ 8.3A-115 and 8.3A-407. The obligation is owed to a person entitled to enforce the instrument or to an endorser who paid the instrument under § 8.3A-415.

Code 1950, §§ 6-412 through 6-414; 1964, c. 219, § 8.3-413; 1992, c. 693.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.