California Commercial Code Section 3105
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California Laws > Commercial Code > California Commercial Code Section 3105
3105. (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: 3105
Last modified: February 22, 2013
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