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§ 3105. Issue of instrument

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 3. Negotiable Instruments (Refs & Annos)
Chapter 31. General Provisions and Definitions
13 Pa.C.S.A. § 3105
§ 3105. Issue of instrument
Currentness
(a) Definition of “issue”.--“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) When certain instruments are binding on maker or drawer.--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) Definition of “issuer”.--“Issuer” applies to issued and unissued instruments and means a maker or drawer of an instrument.

Credits

1992, July 9, P.L. 507, No. 97, § 5, effective in one year.
13 Pa.C.S.A. § 3105, PA ST 13 Pa.C.S.A. § 3105
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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