Colorado Code
Part 4 - Liability of Parties
§ 4-3-417. Presentment Warranties

(1) The person obtaining payment and a prior transferor of the instrument warrant to the person making payment in good faith that the warrantor is, or was, at the time the warrantor transferred the instrument, a person entitled to enforce the instrument or authorized to obtain payment on behalf of a person entitled to enforce the instrument.
(2) The person making payment may recover from any warrantor for breach of warranty an amount equal to the amount paid plus expenses and loss of interest resulting from the breach.

Source: L. 94: Entire article R&RE, p. 869, § 1, effective January 1, 1995. L. 2001: (a) amended and (g) and (h) added, p. 867, § 5, effective August 8.
Editor's note: This section is similar to former § 4-3-417 as it existed prior to 1994.
Cross references: For the legislative declaration contained in the 2001 act amending subsection (a) and enacting subsections (g) and (h), see section 1 of chapter 244, Session Laws of Colorado 2001.

If presentment is made to the drawer or maker, there is no necessity for a warranty concerning the signature of that person or with respect to alteration. If presentment is made to an indorser, the indorser had itself warranted authenticity of signatures and that the instrument was not altered. Section 3-416(a)(2) and (3).