12A: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.
L.1995,c.28,s.1.
Section: Previous 12a-2a-530 12a-2a-531 12a-2a-532 12a-3-101 12a-3-102 12a-3-103 12a-3-104 12a-3-105 12a-3-106 12a-3-107 12a-3-108 12a-3-109 12a-3-110 12a-3-111 12a-3-112 Next
Last modified: October 11, 2016