New York Uniform Commercial Code Law Part 4 - LIABILITY OF PARTIES

• 3-401 - Signature.
  Section 3--401. Signature. (1) No person is liable on an instrument unless his signature appears thereon. (2) A signature is made by use of any...
• 3-402 - Signature in Ambiguous Capacity.
  Section 3--402. Signature in Ambiguous Capacity. Unless the instrument clearly indicates that a signature is made in some other capacity it is an indorsement.
• 3-403 - Signature by Authorized Representative.
  Section 3--403. Signature by Authorized Representative. (1) A signature may be made by an agent or other representative, and his authority to make it may...
• 3-404 - Unauthorized Signatures.
  Section 3--404. Unauthorized Signatures. (1) Any unauthorized signature is wholly inoperative as that of the person whose name is signed unless he ratifies it or...
• 3-405 - Impostors; Signature in Name of Payee.
  Section 3--405. Impostors; Signature in Name of Payee. (1) An indorsement by any person in the name of a named payee is effective if (a)...
• 3-406 - Negligence Contributing to Alteration or Unauthorized Signature.
  Section 3--406. Negligence Contributing to Alteration or Unauthorized Signature. Any person who by his negligence substantially contributes to a material alteration of the instrument or...
• 3-407 - Alteration.
  Section 3--407. Alteration. (1) Any alteration of an instrument is material which changes the contract of any party thereto in any respect, including any such...
• 3-408 - Consideration.
  Section 3--408. Consideration. Want or failure of consideration is a defense as against any person not having the rights of a holder in due course...
• 3-409 - Draft Not an Assignment.
  Section 3--409. Draft Not an Assignment. (1) A check or other draft does not of itself operate as an assignment of any funds in the...
• 3-410 - Definition and Operation of Acceptance.
  Section 3--410. Definition and Operation of Acceptance. (1) Acceptance is the drawee's signed engagement to honor the draft as presented. It must be written on...
• 3-411 - Certification of a Check.
  Section 3--411. Certification of a Check. (1) Certification of a check is acceptance. Where a holder procures certification the drawer and all prior indorsers are...
• 3-412 - Acceptance Varying Draft.
  Section 3--412. Acceptance Varying Draft. (1) Where the drawee's proffered acceptance in any manner varies the draft as presented the holder may refuse the acceptance...
• 3-413 - Contract of Maker, Drawer and Acceptor.
  Section 3--413. Contract of Maker, Drawer and Acceptor. (1) The maker or acceptor engages that he will pay the instrument according to its tenor at...
• 3-414 - Contract of Indorser; Order of Liability.
  Section 3--414. Contract of Indorser; Order of Liability. (1) Unless the indorsement otherwise specifies (as by such words as "without recourse") every indorser engages that...
• 3-415 - Contract of Accommodation Party.
  Section 3--415. Contract of Accommodation Party. (1) An accommodation party is one who signs the instrument in any capacity for the purpose of lending his...
• 3-416 - Contract of Guarantor.
  Section 3--416. Contract of Guarantor. (1) "Payment guaranteed" or equivalent words added to a signature mean that the signer engages that if the instrument is...
• 3-417 - Warranties on Presentment and Transfer.
  Section 3--417. Warranties on Presentment and Transfer. (1) Any person who obtains payment or acceptance and any prior transferor warrants to a person who in...
• 3-418 - Finality of Payment or Acceptance.
  Section 3--418. Finality of Payment or Acceptance. Except for recovery of bank payments as provided in the Article on Bank Deposits and Collections (Article 4)...
• 3-419 - Conversion of Instrument; Innocent Representative.
  Section 3--419. Conversion of Instrument; Innocent Representative. (1) An instrument is converted when (a) a drawee to whom it is delivered for acceptance refuses to...

Last modified: February 3, 2019