Mississippi § 75-3-415 - Obligation of indorser.
Full text of Mississippi Mississippi Code of 1972 Annotated § 75-3-415 — Obligation of indorser., with citation guidance and answers to common questions.
§ 75-3-415. Obligation of indorser.
Subject to subsections (b), (c), and (d) and to Section 75-3-419(d), if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument (i) according to the terms of the instrument at the time it was indorsed, or (ii) if the indorser indorsed an incomplete instrument, according to its terms when completed, to the extent stated in Sections 75-3-115 and 75-3-407. The obligation of the indorser is owed to a person entitled to enforce the instrument or to a subsequent indorser who paid the instrument under this section. If an indorsement states that it is made “without recourse” or otherwise disclaims liability of the indorser, the indorser is not liable under subsection (a) to pay the instrument. If notice of dishonor of an instrument is required by Section 75-3-503 and notice of dishonor complying with that section is not given to an indorser, the liability of the indorser under subsection (a) is discharged. If a draft is accepted by a bank after an indorsement is made, the liability of the indorser under subsection (a) is discharged.
Source: official Mississippi text · Last verified 2026-08-27
Frequently Asked Questions About Mississippi § 75-3-415
What does Mississippi Code of 1972 Annotated § 75-3-415 cover?
Section 75-3-415 ("Obligation of indorser.") is part of the Mississippi Code of 1972 Annotated, the codified statutory law of Mississippi. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Mississippi § 75-3-415?
A common citation format is "Mississippi Code of 1972 Annotated § 75-3-415" (Mississippi). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Mississippi law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Mississippi official source linked on this page or consult a licensed Mississippi attorney.
How does Mississippi § 75-3-415 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Mississippi can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Mississippi.