Oklahoma Statutes

§ 12A-3-413 — Obligation of Acceptor.

Oklahoma·Title 12A Uniform Commercial Code

OBLIGATION OF ACCEPTOR (a) The acceptor of a draft is obliged to pay the draft (i) 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, (ii) if the acceptance varies the terms of the draft, according to the terms of the draft as varied, or (iii) if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent stated in Sections 3-115 and 3-407 of this title. The obligation is owed to a person entitled to enforce the draft or to the drawer or an indorser who paid the draft under Section 3-414 or 3-415 of this title.

(b)If the certification of a check or other acceptance of a draft states the amount certified or accepted, the obligation

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Oklahoma § 12A-3-413 (Obligation of Acceptor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Laws 1961, p. 112, § 3-413; Laws 1991, c. 117, § 76, eff. Jan. 1, 1992.

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