11 §3-1115. Incomplete instrument
§3-1115. Incomplete instrument (1). “Incomplete instrument” means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers. [PL 1993, c. 293, Pt. A, §2 […]
11 §3-1116. Joint and several liability; contribution
§3-1116. Joint and several liability; contribution (1). Except as otherwise provided in the instrument, 2 or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees or anomalous indorsers are jointly and severally liable in the capacity in which they sign. [PL 1993, c. […]
11 §3-1117. Other agreements affecting instrument
§3-1117. Other agreements affecting instrument Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented or nullified by a separate agreement of the obligor and a person entitled to enforce the instrument if the instrument is […]
11 §3-1118. Statute of limitations
§3-1118. Statute of limitations (1). Except as provided in subsection (5), an action to enforce the obligation of a party to pay a note payable at a definite time must be commenced within 6 years after the due date or dates stated in the note or, if a due date is accelerated, within 6 years […]
11 §3-1119. Notice of right to defend action
§3-1119. Notice of right to defend action In an action for breach of an obligation for which a 3rd person is answerable over pursuant to this Article or Article 4, the defendant may give the 3rd person written notice of the litigation and the person notified may then give similar notice to any other person […]
11 §3-1106. Unconditional promise or order
§3-1106. Unconditional promise or order (1). Except as provided in this section, for the purposes of section 3‑1104, subsection (1), a promise or order is unconditional unless it states: (a). An express condition to payment; [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). That the promise or order is subject to or […]
11 §3-1107. Instrument payable in foreign money
§3-1107. Instrument payable in foreign money Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the […]
11 §3-1108. Payable on demand or at definite time
§3-1108. Payable on demand or at definite time (1). A promise or order is “payable on demand” if it: (a). States that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder; or [PL 1993, c. 293, Pt. A, §2 (NEW).] (b). […]
11 §3-1109. Payable to bearer or to order
§3-1109. Payable to bearer or to order (1). A promise or order is payable to bearer if it: (a). States that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment; [PL 1993, c. 293, […]
11 §3-1110. Identification of person to whom instrument is payable
§3-1110. Identification of person to whom instrument is payable (1). The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as, or in the name or behalf of, the issuer of the instrument. The instrument is payable to the person intended by the […]