Arizona Laws 47-3412. Obligation of issuer of note or cashier’s check
Current as of: 2024 | Check for updates
|
Other versions
The issuer of a note or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument:
Terms Used In Arizona Laws 47-3412
- 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.
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
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
2. If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in sections 47-3115 and 47-3407. The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under section 47-3415.