400.3-412. Obligation of issuer of note or cashier's check. - Missouri Statutes

Obligation of issuer of note or cashier's check.

400.3-412. The issuer of a note or cashier's check or otherdraft drawn on the drawer is obliged to pay the instrument (i)according to its terms at the time it was issued or, if notissued, at the time it first came into possession of a holder, or(ii) if the issuer signed an incomplete instrument, according toits terms when completed, to the extent stated in Sections400.3-115 and 400.3-407. The obligation is owed to a personentitled to enforce the instrument or to an endorser who paid theinstrument under Section 400.3-415.

(L. 1992 S.B. 448)

*No continuity with § 400.3-412 as repealed by L. 1992 S.B. 448.