554.3413 Obligation of acceptor. 1. The acceptor of a draft is obliged to pay the draft according to its terms at the time it was accepted, even though the acceptance states that the draft is payable 'as originally drawn' orequivalent terms, if the acceptance varies the terms of the draft, according to the terms of thedraft as varied, or if the acceptance is of a draft that is an incomplete instrument, accordingto its terms when completed, to the extent stated in sections 554.3115 and 554.3407. Theobligation is owed to a person entitled to enforce the draft or to the drawer or an endorserwho paid the draft under section 554.3414 or 554.3415. 2. 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 the certification or acceptance doesnot state an amount, the amount of the instrument is subsequently raised, and the instrumentis then negotiated to a holder in due course, the obligation of the acceptor is the amount ofthe instrument at the time it was taken by the holder in due course. 94 Acts, ch 1167, §60, 121, 122; 2013 Acts, ch 30, §261 Sat Dec 23 01:56:58 2023 Iowa Code 2024, n of the acceptor is the amount ofthe instrument at the time it was taken by the holder in due course. 94 Acts, ch 1167, §60, 121, 122; 2013 Acts, ch 30, §261 Sat Dec 23 01:56:58 2023 Iowa Code 2024, Section 554.3413 (26, 0)
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