Code of Alabama
Title 7 - Commercial Code.
Article 3 - Negotiable Instruments.

Part 1 - General Provisions and Definitions.

Section 7-3-101 - Short Title. - This article may be cited as Uniform Commercial Code -...

Section 7-3-103 - Definitions. - (a) In this article: (1) "Acceptor" means a drawee who...

Section 7-3-102 - Subject Matter. - (a) This article applies to negotiable instruments. It does not...

Section 7-3-104 - Negotiable Instrument. - (a) Except as provided in subsections (c) and (d), "negotiable...

Section 7-3-105 - Issue of Instrument. - (a) "Issue" means the first delivery of an instrument by...

Section 7-3-106 - Unconditional Promise or Order. - (a) Except as provided in this section, for the purposes...

Section 7-3-107 - Instrument Payable in Foreign Money. - Unless the instrument otherwise provides, an instrument that states the...

Section 7-3-108 - Payable on Demand or at Definite Time. - (a) A promise or order is "payable on demand" if...

Section 7-3-109 - Payable to Bearer or to Order. - (a) A promise or order is payable to bearer if...

Section 7-3-110 - Identification of Person to Whom Instrument Is Payable. - (a) The person to whom an instrument is initially payable...

Section 7-3-111 - Place of Payment. - Except as otherwise provided for items in Article 4, an...

Section 7-3-112 - Interest. - (a) Unless otherwise provided in the instrument, (i) an instrument...

Section 7-3-113 - Date of Instrument. - (a) An instrument may be antedated or postdated. The date...

Section 7-3-114 - Contradictory Terms of Instrument. - If an instrument contains contradictory terms, typewritten terms prevail over...

Section 7-3-115 - Incomplete Instrument. - (a) "Incomplete instrument" means a signed writing, whether or not...

Section 7-3-116 - Joint and Several Liability; Contribution. - (a) Except as otherwise provided in the instrument, two or...

Section 7-3-117 - Other Agreements Affecting Instrument. - Subject to applicable law regarding exclusion of proof of contemporaneous...

Section 7-3-118 - Statute of Limitations. - (a) Note payable at a definite time. Except as provided...

Section 7-3-119 - Notice of Right to Defend Action. - In an action for breach of an obligation for which...

Part 2 - Negotiation, Transfer, and Indorsement.

Section 7-3-201 - Negotiation. - (a) "Negotiation" means a transfer of possession, whether voluntary or...

Section 7-3-202 - Negotiation Subject to Rescission. - (a) Negotiation is effective even if obtained (i) from an...

Section 7-3-203 - Transfer of Instrument; Rights Acquired by Transfer. - (a) An instrument is transferred when it is delivered by...

Section 7-3-204 - Indorsement. - (a) "Indorsement" means a signature, other than that of a...

Section 7-3-205 - Special Indorsement; Blank Indorsement; Anomalous Indorsement. - (a) If an indorsement is made by the holder of...

Section 7-3-206 - Restrictive Indorsement. - (a) An indorsement limiting payment to a particular person or...

Section 7-3-207 - Reacquisition. - Reacquisition of an instrument occurs if it is transferred to...

Part 3 - Enforcement of Instruments.

Section 7-3-301 - Person Entitled to Enforce Instrument. - "Person entitled to enforce" an instrument means (i) the holder...

Section 7-3-302 - Holder in Due Course. - (a) Subject to subsection (c) and Section 7-3-106(d), "holder in...

Section 7-3-303 - Value and Consideration. - (a) An instrument is issued or transferred for value if:...

Section 7-3-306 - Claims to an Instrument. - A person taking an instrument, other than a person having...

Section 7-3-304 - Overdue Instrument. - (a) An instrument payable on demand becomes overdue at the...

Section 7-3-305 - Defenses and Claims in Recoupment. - (a) Except as stated in subsection (b), the right to...

Section 7-3-307 - Notice of Breach of Fiduciary Duty. - (a) In this section: (1) "Fiduciary" means an agent, trustee,...

Section 7-3-308 - Proof of Signatures and Status as Holder in Due Course. - (a) In an action with respect to an instrument, the...

Section 7-3-309 - Enforcement of Lost, Destroyed, or Stolen Instrument. - (a) A person not in possession of an instrument is...

Section 7-3-310 - Effect of Instrument on Obligation for Which Taken. - (a) Unless otherwise agreed, if a certified check, cashier's check,...

Section 7-3-311 - Accord and Satisfaction by Use of Instrument. - (a) If a person against whom a claim is asserted...

Section 7-3-312 - Lost, Destroyed, or Stolen Cashier's Check, Teller's Check, or Certified Check. - (a) In this section: (1) "Check" means a cashier's check,...

Part 4 - Liability of Parties.

Section 7-3-401 - Signature. - (a) A person is not liable on an instrument unless...

Section 7-3-402 - Signature by Representative. - (a) If a person acting, or purporting to act, as...

Section 7-3-403 - Unauthorized Signature. - (a) Unless otherwise provided in this article or Article 4,...

Section 7-3-404 - Impostors; Fictitious Payees. - (a) If an impostor, by use of the mails or...

Section 7-3-405 - Employer's Responsibility for Fraudulent Indorsement by Employee. - (a) This section applies to fraudulent indorsements of instruments with...

Section 7-3-406 - Negligence Contributing to Forged Signature or Alteration of Instrument. - (a) A person whose failure to exercise ordinary care substantially...

Section 7-3-407 - Alteration. - (a) "Alteration" means (i) an unauthorized change in an instrument...

Section 7-3-408 - Drawee Not Liable on Unaccepted Draft. - A check or other draft does not of itself operate...

Section 7-3-409 - Acceptance of Draft; Certified Check. - (a) "Acceptance" means the drawee's signed agreement to pay a...

Section 7-3-410 - Acceptance Varying Draft. - (a) If the terms of a drawee's acceptance vary from...

Section 7-3-411 - Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks. - (a) In this section, "obligated bank" means the acceptor of...

Section 7-3-412 - Obligation of Issuer of Note or Cashier's Check. - The issuer of a note or cashier's check or other...

Section 7-3-413 - Obligation of Acceptor. - (a) The acceptor of a draft is obliged to pay...

Section 7-3-414 - Obligation of Drawer. - (a) This section does not apply to cashier's checks or...

Section 7-3-415 - Obligation of Indorser. - (a) Subject to subsections (b), (c), and (d) and to...

Section 7-3-416 - Transfer Warranties. - (a) A person who transfers an instrument for consideration warrants...

Section 7-3-417 - Presentment Warranties. - (a) If an unaccepted draft is presented to the drawee...

Section 7-3-418 - Payment or Acceptance by Mistake. - (a) Except as provided in subsection (c), if the drawee...

Section 7-3-419 - Instruments Signed for Accommodation. - (a) If an instrument is issued for value given for...

Section 7-3-420 - Conversion of Instrument. - (a) An instrument is converted under circumstances which would constitute...

Part 5 - Dishonor.

Section 7-3-502 - Dishonor. - (a) Dishonor of a note is governed by the following...

Section 7-3-503 - Notice of Dishonor. - (a) The obligation of an indorser stated in Section 7-3-415(a)...

Section 7-3-501 - Presentment. - (a) "Presentment" means a demand made by or on behalf...

Section 7-3-504 - Excused Presentment and Notice of Dishonor. - (a) Presentment for payment or acceptance of an instrument is...

Section 7-3-505 - Evidence of Dishonor. - (a) The following are admissible as evidence and create a...

Part 6 - Discharge and Payment.

Section 7-3-601 - Discharge and Effect of Discharge. - (a) The obligation of a party to pay the instrument...

Section 7-3-602 - Payment. - (a) Subject to subsection (b), an instrument is paid to...

Section 7-3-603 - Tender of Payment. - (a) If tender of payment of an amount due on...

Section 7-3-604 - Discharge by Cancellation or Renunciation. - (a) A person entitled to enforce an instrument, with or...

Section 7-3-605 - Discharge of Indorsers and Accommodation Parties. - (a) In this section, the term "indorser" includes a drawer...

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Code of Alabama Title 7 - Commercial Code. Article 3 - Negotiable Instruments.

Code of Alabama
Title 7 - Commercial Code.
Article 3 - Negotiable Instruments.