Georgia Code § 11-3-105 - 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 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  11-3-101  11-3-102  11-3-103  11-3-104  11-3-105  11-3-106  11-3-107  11-3-108  11-3-109  11-3-110  11-3-111  11-3-112  11-3-113  11-3-114  11-3-115  Next

Last modified: October 14, 2016