47-3105. Issue of instrument
A. " Issue" means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person.
B. An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.
C. " Issuer" applies to issued and unissued instruments and means a maker or drawer of an instrument.
Section: Previous 47-2a530 47-2a531 47-2a532 47-3101 47-3102 47-3103 47-3104 47-3105 47-3106 47-3107 47-3108 47-3109 47-3110 47-3111 47-3112 NextLast modified: October 13, 2016