                                 CODE OF VIRGINIA

OBLIGATION OF ACCEPTOR (§ 8.3A-413)

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 &#8220;as originally drawn&#8221; 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
&#xA7;&#xA7; 8.3A-115 and 8.3A-407. The obligation is owed to a person entitled
to enforce the draft or to the drawer or an endorser who paid the draft under
&#xA7; 8.3A-414 or &#xA7; 8.3A-415.

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.

HISTORY: Code 1950, §§ 6-412 through 6-414; 1964, c. 219, § 8.3-413; 1992, c.
693.