Arkansas Code Title 4, Subtitle 1, Chapter 3, Part 1 - General Provisions and Definitions

• § 4-3-101 - Short Title.
  This chapter may be cited as Uniform Commercial Code -- Negotiable Instruments.
• § 4-3-102 - Subject Matter.
  (a) This chapter applies to negotiable instruments. It does not apply to money, to payment orders governed by § 4-4A-101 et seq., or to...
• § 4-3-103 - Definitions.
  (a) In this chapter: (1) "Acceptor" means a drawee who has accepted a draft. (2) "Consumer transaction" means a transaction in which an individual...
• § 4-3-104 - Negotiable Instrument.
  (a) Except as provided in subsections (c) and (d), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money,...
• § 4-3-105 - 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...
• § 4-3-106 - Unconditional Promise or Order.
  (a) Except as provided in this section, for the purposes of § 4-3-104(a), a promise or order is unconditional unless it states (i) an...
• § 4-3-107 - Instrument Payable in Foreign Money.
  Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in...
• § 4-3-108 - Payable on Demand or At Definite Time.
  (a) A promise or order is "payable on demand" if it (i) states that it is payable on demand or at sight, or otherwise...
• § 4-3-109 - Payable to Bearer or to Order.
  (a) A promise or order is payable to bearer if it: (1) States that it is payable to bearer or to the order of...
• § 4-3-110 - Identification of Person to Whom Instrument is Payable.
  (a) The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as,...
• § 4-3-111 - Place of Payment.
  Except as otherwise provided for items in chapter 4, an instrument is payable at the place of payment stated in the instrument. If no...
• § 4-3-112 - Interest.
  (a) Unless otherwise provided in the instrument, (i) an instrument is not payable with interest, and (ii) interest on an interest-bearing instrument is payable...
• § 4-3-113 - Date of Instrument.
  (a) An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed...
• § 4-3-114 - Contradictory Terms of Instrument.
  If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers.
• § 4-3-115 - Incomplete Instrument.
  (a) "Incomplete instrument" means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing...
• § 4-3-116 - Joint and Several Liability -- Contribution.
  (a) Except as otherwise provided in the instrument, two (2) or more persons who have the same liability on an instrument as makers, drawers,...
• § 4-3-117 - Other Agreements Affecting Instrument.
  Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the...
• § 4-3-118 - Statute of Limitations.
  (a) Except as provided in subsection (e), an action to enforce the obligation of a party to pay a note payable at a definite...
• § 4-3-119 - Notice of Right to Defend Action.
  In an action for breach of an obligation for which a third person is answerable over pursuant to this chapter or chapter 4, the...

Last modified: November 15, 2016