678.2051 – Effect of unauthorized signature on security certificate.
678.2051 Effect of unauthorized signature on security certificate.—An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor of a purchaser for value of the certificated security if the purchaser is without notice of the lack of authority and the signing has been […]
678.1071 – Whether indorsement, instruction, or entitlement order is effective.
678.1071 Whether indorsement, instruction, or entitlement order is effective.— (1) “Appropriate person” means: (a) With respect to an indorsement, the person specified by a security certificate or by an effective special indorsement to be entitled to the security; (b) With respect to an instruction, the registered owner of an uncertificated security; (c) With respect to an entitlement order, the entitlement […]
678.1081 – Warranties in direct holding.
678.1081 Warranties in direct holding.— (1) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an indorser, if the transfer is by indorsement, warrants to any subsequent purchaser, that: (a) The certificate is genuine and has not been materially altered. (b) The transferor or indorser does not know of any fact […]
678.1091 – Warranties in indirect holding.
678.1091 Warranties in indirect holding.— (1) A person who originates an entitlement order to a securities intermediary warrants to the securities intermediary that: (a) The entitlement order is made by an appropriate person, or if the entitlement order is by an agent, the agent has actual authority to act on behalf of the appropriate person. (b) There is no […]
678.1101 – Applicability; choice of law.
678.1101 Applicability; choice of law.— (1) The local law of the issuer’s jurisdiction, as specified in subsection (4), governs: (a) The validity of a security. (b) The rights and duties of the issuer with respect to registration of transfer. (c) The effectiveness of registration of transfer by the issuer. (d) Whether the issuer owes any duties to an adverse claimant to […]
678.1111 – Clearing corporation rules.
678.1111 Clearing corporation rules.—A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing corporation is effective even if the rule conflicts with this chapter and affects another party who does not consent to the rule. History.—s. 1, ch. 98-11.
678.1121 – Creditor’s legal process.
678.1121 Creditor’s legal process.— (1) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the officer making the attachment or levy, except as otherwise provided in subsection (4). However, a certificated security for which the certificate has been surrendered to the issuer […]
677.509 – Adequate compliance with commercial contract.
677.509 Adequate compliance with commercial contract.—Whether a document of title is adequate to fulfill the obligations of a contract for sale, the conditions of a letter of credit, or a contract for lease is determined by chapter 672, chapter 675, or chapter 680. History.—s. 1, ch. 65-254; s. 53, ch. 2010-131. Note.—s. 7-509, U.C.C.
678.1131 – Statute of frauds inapplicable.
678.1131 Statute of frauds inapplicable.—A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its […]
677.601 – Lost, stolen, or destroyed documents of title.
677.601 Lost, stolen, or destroyed documents of title.— (1) If a document of title is lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee may without liability to any person comply with the order. If the document was negotiable, a court may not order delivery […]