Pennsylvania § 3413 Obligation of acceptor

Pennsylvania Statutes

§ 3413 — Obligation of acceptor

Pennsylvania § 3413

Title 13COMMERCIAL CODE

Ch. 34LIABILITY OF PARTIES

This text of Pennsylvania § 3413 (Obligation of acceptor) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

13 Pa. Cons. Stat. § 3413 (2026).

Text

(a)General rule.--The acceptor of a draft is obliged to pay the draft:

(1)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;

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

(3)if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent stated in sections 3115 (relating to incomplete instrument) and 3407 (relating to alteration). 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 3414 (relating to obligation of drawer) or 3415 (relating to obligation of indorser).

(b)Certified check or acce

Free access — add to your briefcase to read the full text and ask questions with AI

(a) General rule.--The acceptor of a draft is obliged to pay the draft:

(1) 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;

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

(3) if the acceptance is of a draft that is an incomplete instrument, according to its terms when completed, to the extent stated in sections 3115 (relating to incomplete instrument) and 3407 (relating to alteration).

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 3414 (relating to obligation of drawer) or 3415 (relating to obligation of indorser).

(b) Certified check or accepted draft.--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. If the certification or acceptance does not state an amount, the amount of the instrument is subsequently raised and the instrument is then negotiated to a holder in due course, the obligation of the acceptor is the amount of the instrument at the time it was taken by the holder in due course.