Va. Code § 8.3A-412

Current with changes from the 2024 legislative session through ch. 845

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

Va. Code § 8.3A-412

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

Amended by Acts 1992, § c.693.

Amended by Acts 1964, § c. 219, § 8.3-413.