Vermont § 413 - § 3—413.
Full text of Vermont Vermont Statutes Online § 413 — § 3—413., with citation guidance and answers to common questions.
§ 413. § 3—413.
- Obligation of acceptor (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 to the terms of the draft as varied, or (iii) if the acceptance
is of a draft that is an incomplete instrument, according to its terms when completed,
to the extent stated in sections 3—115 and 3—407 of this title. 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 of this title. (b) If the certification of a check or other acceptance of a draft states the amount certified
or accepted, the obligation of the acceptor is that amount. If (i) the certification
or acceptance does not state an amount, (ii) the amount of the instrument is subsequently
raised, and (iii) the instrument is then negotiated to a holder in due course, the
obligation of the acceptor is the amount of the instrument at the time it was taken
by the holder in due course. (Added 1993, No. 158 (Adj. Sess.), § 12, eff. Jan. 1, 1995.)
Frequently Asked Questions About Vermont § 413
What does Vermont Statutes Online § 413 cover?
Section 413 ("§ 3—413.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. 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 Vermont § 413?
A common citation format is "Vermont Statutes Online § 413" (Vermont). 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 Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 413 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont 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 Vermont.