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Can you summarize NHRS 382-A:3-413?
UNIFORM COMMERCIAL CODE > Obligation of Acceptor.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the obligation of the acceptor of a draft. The acceptor is obliged to pay the draft according to its terms at the time of acceptance. If the acceptance varies the terms of the draft, the acceptor is obliged to pay according to the varied terms. If the acceptance is of an incomplete instrument, the acceptor is obliged to pay according to its terms when completed, as stated in Sections 3-115 and 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 3-414 or 3-415. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
Acceptors of drafts
What does it govern?
Obligation of acceptor of a draft
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New Hampshire