§ 25-3-412. Obligation of issuer of note or cashier's check. - North Carolina Statutes

§25‑3‑412.  Obligation of issuer of note or cashier's check.

The issuer of a note orcashier's check or other draft drawn on the drawer is obliged to pay theinstrument (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 theissuer 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 anindorser 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.)