Montana § 30-3-422 Obligation Of Acceptor

Montana Statutes

§ 30-3-422 — Obligation Of Acceptor

Montana·Title 30 TRADE AND COMMERCE·Ch. 3 UNIFORM COMMERCIAL CODE NEGOTIABLE INSTRUMENTS·Part 4 Liability of Parties

30-3-422 . Obligation of acceptor.

(1)An acceptor of a draft is obliged to pay the draft:

(a)according to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms;

(b)if the acceptance varies the terms of the draft, according to the terms of the draft as varied; or

(c)if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed as stated in 30-3-115 and 30-3-407 .

(2)The obligation is owed to a person entitled to enforce the draft or to the drawer or an indorser that paid the draft pursuant to 30-3-423 or 30-3-414 .

(3)If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that

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30-3-422 . Obligation of acceptor. (1) An acceptor of a draft is obliged to pay the draft:
(a) according to its terms at the time it was accepted, even though the acceptance states that the draft is payable "as originally drawn" or equivalent terms;
(b) if the acceptance varies the terms of the draft, according to the terms of the draft as varied; or
(c) if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed as stated in 30-3-115 and 30-3-407 .
(2) The obligation is owed to a person entitled to enforce the draft or to the drawer or an indorser that paid the draft pursuant to 30-3-423 or 30-3-414 .
(3) If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation of the acceptor is that amount. The obligation of the acceptor is the amount of the instrument at the time it was negotiated to the holder in due course if:
(a) the certification or acceptance does not state an amount;
(b) the instrument is subsequently altered by raising its amount; and
(c) the instrument is then negotiated to a holder in due course.

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