§ 3-105. 3-105
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/us/ucc/a3/s3-105A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.
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§ 3-105
3-105
Fed. Reg.×1
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