§ 6A-3-414 - Obligation of drawer.
SECTION 6A-3-414
§ 6A-3-414 Obligation of drawer. –(a) This section does not apply to cashier's checks or other drafts drawn onthe drawer.
(b) If an unaccepted draft is dishonored, the drawer isobliged to pay the draft (i) according to its terms at the time it was issuedor, if not issued, at the time it first came into possession of a holder, or(ii) if the drawer signed an incomplete instrument, according to its terms whencompleted, to the extent stated in §§ 6A-3-115 and 6A-3-407. Theobligation is owed to a person entitled to enforce the draft or to an indorserwho paid the draft under § 6A-3-415.
(c) If a draft is accepted by a bank, the drawer isdischarged, regardless of when or by whom acceptance was obtained.
(d) If a draft is accepted and the acceptor is not a bank,the obligation of the drawer to pay the draft if the draft is dishonored by theacceptor is the same as the obligation of an indorser under § 6A-3-415(a)and (c).
(e) If a draft states that it is drawn "without recourse" orotherwise disclaims liability of the drawer to pay the draft, the drawer is notliable under subsection (b) to pay the draft if the draft is not a check. Adisclaimer of the liability stated in subsection (b) is not effective if thedraft is a check.
(f) If (i) a check is not presented for payment or given to adepositary bank for collection within 30 days after its date, (ii) the draweesuspends payments after expiration of the 30-day period without paying thecheck, and (iii) because of the suspension of payments, the drawer is deprivedof funds maintained with the drawee to cover payment of the check, the drawerto the extent deprived of funds may discharge its obligation to pay the checkby assigning to the person entitled to enforce the check the rights of thedrawer against the drawee with respect to the funds.