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6 chapters · 69 sections in this title.
Va. Code Ann. § 8.3A-412 Obligation of issuer of note or cashier's check
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The issuer of a note or cashier's check or other draft drawn on the drawer is obliged to pay the instrument (i) according to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder, or (ii) if the issuer signed an incomplete in…
Va. Code Ann. § 8.3A-413 Obligation of acceptor
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(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 t…
Va. Code Ann. § 8.3A-414 Obligation of drawer
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(a) This section does not apply to cashier's checks or other drafts drawn on the drawer. (b) If an unaccepted draft is dishonored, the drawer is obliged to pay the draft (i) according to its terms at the time it was issued or, if not issued, at the time it first came into possess…
Va. Code Ann. § 8.3A-415 Obligation of endorser
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(a) Subject to subsections (b), (c), and (d) and to § 8.3A-419 (d), if an instrument is dishonored, an endorser is obliged to pay the amount due on the instrument (i) according to the terms of the instrument at the time it was endorsed, or (ii) if the endorser endorsed an incompl…