{"data":{"id":"us-mi/mich.-comp.-laws-440.3413","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.3413","heading":"Draft; obligation to pay according to terms; amount.","body":"Sec. 3413.\n\nThe 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 3115 and 3407. The obligation is owed to a person entitled to enforce the draft or to the drawer or an endorser who paid the draft under section 3414 or 3415.\n\nIf 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.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-3413","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"ae86df6a0432e4a90b81581e2ff755547cdb566259f892ce2d2f2b9b96b6b32e","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.3412","next":"us-mi/mich.-comp.-laws-440.3414"},"notice":"GroundRules: Original legal text. Not legal advice."}