Maine Revised Statutes Title 11 Sec. 3-1412 – Obligation of issuer of note or cashier’s check
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The issuer of a note or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument: [PL 1993, c. 293, Pt. A, §2 (NEW).]
(1). 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
[PL 1993, c. 293, Pt. A, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 11 Sec. 3-1412
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(2). If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 3?1115 and 3?1407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 3?1415.
[PL 1993, c. 293, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 1993, c. 293, §A2 (NEW).