§ 34.1-3-413 — Obligation of acceptor

Wyoming § 34.1-3-413

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 3: NEGOTIABLE INSTRUMENTS

Text

(a) 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 34.1-3-115 and 34.1-3-407. 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
34.1-3-414 or 34.1-3-415.
(b) 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 (1) the certification or
acceptance does not state an amount, (2) the amount of the
instrument is subsequently raised, and (3) 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.