Nevada § 104.3414 - Obligation of drawer

§ 104.3414. Obligation of drawer

1. This section does not apply to cashier's checks or other drafts drawn on the drawer. 2. If an unaccepted draft is dishonored, the drawer is obliged to pay the draft: (a) 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 (b) If the drawer signed an incomplete instrument, according to its terms when completed,

to the extent stated in NRS 104.3115 and 104.3407 . The obligation is owed to a person entitled to enforce the draft or to an endorser

who paid the draft under NRS 104.3415 . 3. If a draft is accepted by a bank, the drawer is discharged, regardless of when

or by whom acceptance was obtained. 4. 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 the acceptor is the same as the obligation

of an endorser under subsections 1 and 3 of NRS 104.3415 . 5. If a draft states that it is drawn “without recourse” or otherwise disclaims liability

of the drawer to pay the draft, the drawer is not liable under subsection 2 to pay

the draft if the draft is not a check. A disclaimer of the liability stated in subsection 2 is not effective if the draft

is a check. 6. If a check is not presented for payment or given to a depositary bank for collection

within 30 days after its date, the drawee suspends payments after expiration of the

30-day period without paying the check, and because of the suspension of payments,

the drawer is deprived of funds maintained with the drawee to cover payment of the

check, the drawer to the extent deprived of funds may discharge his or her obligation

to pay the check by assigning to the person entitled to enforce the check his or her

rights against the drawee with respect to the funds.