The issuer of a note or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument:
(1) 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
(2) If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in ss. 673.1151 and 673.4071.
The obligation is owed to a person entitled to enforce the instrument or to an indorser who paid the instrument under s. 673.4151.