11 §3-1415. Obligation of indorser
§3-1415. Obligation of indorser (1). Subject to subsections (2), (3), (4) and (5) and to section 3‑1419, subsection (4), when an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument: (a). According to the terms of the instrument at the time it was indorsed; or [PL 1993, […]
11 §3-1312. Lost, destroyed, or stolen cashier’s check, teller’s check, or certified check
§3-1312. Lost, destroyed, or stolen cashier’s check, teller’s check, or certified check (1). In this section, the following terms have the following meanings. (a). “Check” means a cashier’s check, teller’s check or certified check. [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). “Claimant” means a person who claims the right to receive […]
11 §3-1416. Transfer warranties
§3-1416. Transfer warranties (1). A person who transfers an instrument for consideration shall warrant to the transferee and, if the transfer is by indorsement, to any subsequent transferee that: (a). The warrantor is a person entitled to enforce the instrument; [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). All signatures on the […]
11 §3-1401. Signature
§3-1401. Signature (1). A person is not liable on an instrument unless: (a). The person signed the instrument; or [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). The person is represented by an agent or representative who signed the instrument and the signature is binding on the represented person under section 3-1402. […]
11 §3-1402. Signature by representative
§3-1402. Signature by representative (1). If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person or the name of the signer, the represented person is bound by the signature to the same extent the represented person would be bound if the signature […]
11 §3-1403. Unauthorized signature
§3-1403. Unauthorized signature (1). Unless otherwise provided in this Article or Article 4, an unauthorized signature is ineffective except as the signature of the unauthorized signer in favor of a person who in good faith pays the instrument or takes it for value. An unauthorized signature may be ratified for all purposes of this Article. […]
11 §3-1404. Impostors; fictitious payees
§3-1404. Impostors; fictitious payees (1). If an impostor by use of the mails or otherwise induces the issuer of an instrument to issue the instrument to the impostor, or to a person acting in concert with the impostor, by impersonating the payee of the instrument or a person authorized to act for the payee, an […]
11 §3-1405. Employer’s responsibility for fraudulent indorsement by employee
§3-1405. Employer’s responsibility for fraudulent indorsement by employee (1). In this section, unless the context otherwise indicates, the following terms have the following meanings. (a). “Employee” includes an independent contractor and employee of an independent contractor retained by the employer. [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). “Fraudulent indorsement” means: […]
11 §3-1406. Negligence contributing to forged signature or alteration of instrument
§3-1406. Negligence contributing to forged signature or alteration of instrument (1). A person whose failure to exercise ordinary care substantially contributes to an alteration of an instrument or to the making of a forged signature on an instrument is precluded from asserting the alteration or the forgery against a person who, in good faith, pays […]
11 §3-1407. Alteration
§3-1407. Alteration (1). “Alteration” means: (a). An unauthorized change in an instrument that purports to modify in any respect the obligation of a party; or [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). An unauthorized addition of words or numbers or other change to an incomplete instrument related to the obligation of […]