District of Columbia Code
Title 28 - Commercial Instruments and Transactions. [Enacted title]
Subtitle I - Uniform Commercial Code

§ 28:1–103. Construction of subtitle to promote its purposes and policies; applicability of supplemental principles of law - (a) This subtitle must be liberally construed and applied to...

§ 28:1–104. Construction against implied repeal - This subtitle being a general act intended as a unified...

§ 28:1–105. Severability - If any provision or clause of this subtitle or its...

§ 28:1–106. Use of singular and plural; gender - In this subtitle, unless the statutory context otherwise requires: (1)...

§ 28:1–107. Section captions - Section captions are part of this subtitle. (Dec. 30, 1963,...

§ 28:1–108. Relation to Electronic Signatures in Global and National Commerce Act - This subtitle modifies, limits, and supersedes the Electronic Signatures in...

Part II - General Definitions and Principles of Interpretation

§ 28:1–201. General definitions - (a) Unless the context otherwise requires, words or phrases defined...

§ 28:1–202. Notice; knowledge - (a) Subject to subsection (f) of this section, a person...

§ 28:1–203. Lease distinguished from security interest - (a) Whether a transaction in the form of a lease...

§ 28:1–204. Value - Except as otherwise provided in Articles 3, 4, and 5,...

§ 28:1–205. Reasonable time; seasonableness - (a) Whether a time for taking an action required by...

§ 28:1–206. Presumptions - Whenever this subtitle creates a presumption with respect to a...

Part III - Territorial Applicability and General Rules

§ 28:1–301. Territorial applicability; parties’ power to choose applicable law - (a) Except as otherwise provided in this section, when a...

§ 28:1–302. Variation by agreement - (a) Except as otherwise provided in subsection (b) of this...

§ 28:1–303. Course of performance, course of dealing, and usage of trade - (a) A “course of performance” is a sequence of conduct...

§ 28:1–304. Obligation of good faith - Every contract or duty within this subtitle imposes an obligation...

§ 28:1–305. Remedies to be liberally administered - (a) The remedies provided by this subtitle must be liberally...

§ 28:1–306. Waiver or renunciation of claim or right after breach - A claim or right arising out of an alleged breach...

§ 28:1–307. Prima facie evidence by third-party documents - A document in due form purporting to be a bill...

§ 28:1–308. Performance or acceptance under reservation of rights - (a) A party that with explicit reservation of rights performs,...

§ 28:1–309. Option to accelerate at will - A term providing that one party or that party’s successor...

§ 28:1–310. Subordinated obligations - An obligation may be issued as subordinated to performance of...

Article 2 - Sales

Part I - Short Title, General Construction and Subject Matter

§ 28:2–101. Short title - This article shall be known and may be cited as...

§ 28:2–102. Scope; certain security and other transactions excluded from this article - Unless the context otherwise requires, this article applies to transactions...

§ 28:2–103. Definitions and index of definitions - (1) In this article unless the context otherwise requires: (a)...

§ 28:2–104. Definitions: “merchant”; “between merchants”; “financing agency” - (1) “Merchant” means a person who deals in goods of...

§ 28:2–105. Definitions: transferability; “goods”; “future” goods; “lot”; “commercial unit” - (1) “Goods” means all things (including specially manufactured goods) which...

§ 28:2–106. Definitions: “contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “conforming” to contract; “termination”; “cancellation” - (1) In this article unless the context otherwise requires “contract”...

§ 28:2–107. Goods to be severed from realty; recording - (1) A contract for the sale of minerals or the...

Part II - Form, Formation and Readjustment of Contract

§ 28:2–201. Formal requirements; statute of frauds - (1) Except as otherwise provided in this section a contract...

§ 28:2–202. Final written expression: parol or extrinsic evidence - Terms with respect to which the confirmatory memoranda of the...

§ 28:2–203. Seals inoperative - The affixing of a seal to a writing evidencing a...

§ 28:2–204. Formation in general - (1) A contract for sale of goods may be made...

§ 28:2–205. Firm offers - An offer by a merchant to buy or sell goods...

§ 28:2–206. Offer and acceptance in formation of contract - (1) Unless otherwise unambiguously indicated by the language or circumstances:...

§ 28:2–207. Additional terms in acceptance or confirmation - (1) A definite and seasonable expression of acceptance or a...

§ 28:2–208. Course of performance or practical construction - Repealed. (Dec. 30, 1963, 77 Stat. 644, Pub. L. 88-243,...

§ 28:2–209. Modification, rescission and waiver - (1) An agreement modifying a contract within this article needs...

§ 28:2–210. Delegation of performance; assignment of rights - (1) A party may perform his duty through a delegate...

Part III - General Obligation and Construction of Contract

§ 28:2–301. General obligations of parties - The obligation of the seller is to transfer and deliver...

§ 28:2–302. Unconscionable contract or clause - (1) If the court as a matter of law finds...

§ 28:2–303. Allocation or division of risks - Where this article allocates a risk or a burden as...

§ 28:2–304. Price payable in money, goods, realty, or otherwise - (1) The price can be made payable in money or...

§ 28:2–305. Open price term - (1) The parties if they so intend can conclude a...

§ 28:2–306. Output, requirements and exclusive dealings - (1) A term which measures the quantity by the output...

§ 28:2–307. Delivery in single lot or several lots - Unless otherwise agreed all goods called for by a contract...

§ 28:2–308. Absence of specified place for delivery - Unless otherwise agreed: (a) the place for delivery of goods...

§ 28:2–309. Absence of specific time provisions; notice of termination - (1) The time for shipment or delivery or any other...

§ 28:2–310. Open time for payment or running of credit; authority to ship under reservation - Unless otherwise agreed: (a) payment is due at the time...

§ 28:2–311. Options and cooperation respecting performance - (1) An agreement for sale which is otherwise sufficiently definite...

§ 28:2–312. Warranty of title and against infringement; buyer’s obligation against infringement - (1) Subject to subsection (2) there is in a contract...

§ 28:2–313. Express warranties by affirmation, promise, description, sample - (1) Express warranties by the seller are created as follows:...

§ 28:2–314. Implied warranty: merchantability; usage of trade - (1) Unless excluded or modified (section 28:2-316), a warranty that...

§ 28:2–315. Implied warranty: fitness for particular purpose - Where the seller at the time of contracting has reason...

§ 28:2–316. Exclusion or modification of warranties - (1) Words or conduct relevant to the creation of an...

§ 28:2–317. Cumulation and conflict of warranties express or implied - Warranties whether express or implied shall be construed as consistent...

§ 28:2–318. Third party beneficiaries of warranties express or implied - A seller’s warranty whether express or implied extends to any...

§ 28:2–319. F.O.B. and F.A.S. terms - (1) Unless otherwise agreed the term F.O.B. (which means “free...

§ 28:2–320. C.I.F. and C. & F. terms - (1) The term C.I.F. means that the price includes in...

§ 28:2–321. C.I.F. or C. & F.: “net landed weights”; “payment on arrival”; warranty of condition on arrival - Under a contract containing a term C.I.F. or C. &...

§ 28:2–322. Delivery “ex-ship” - (1) Unless otherwise agreed a term for delivery of goods...

§ 28:2–323. Form of bill of lading required in overseas shipment; “overseas” - (1) Where the contract contemplates overseas shipment and contains a...

§ 28:2–324. “No arrival, no sale” term - Under a term “no arrival, no sale” or terms of...

§ 28:2–325. “Letter of credit” term; “confirmed credit” - (1) Failure of the buyer seasonably to furnish an agreed...

§ 28:2–326. Sale on approval and sale or return; rights of creditors - (1) Unless otherwise agreed, if delivered goods may be returned...

§ 28:2–327. Special incidents of sale on approval and sale or return - (1) Under a sale on approval unless otherwise agreed (a)...

§ 28:2–328. Sale by auction - (1) In a sale by auction if goods are put...

§ 28:2–316.01. Limitation of exclusion or modification of warranties consumers - (1) The provisions of section 28:2-316 do not apply to...

Part IV - Title, Creditors and Good Faith Purchasers

§ 28:2–401. Passing of title; reservation for security; limited application of this section - Each provision of this article with regard to the rights,...

§ 28:2–402. Rights of seller’s creditors against sold goods - (1) Except as provided in subsections (2) and (3), rights...

§ 28:2–403. Power to transfer; good faith purchase of goods; “entrusting” - (1) A purchaser of goods acquires all title which his...

Part V - Performance

§ 28:2–501. Insurable interest in goods; manner of identification of goods - (1) The buyer obtains a special property and an insurable...

§ 28:2–502. Buyer’s right to goods on seller’s repudiation, failure to deliver, or insolvency - (1) Subject to subsections (2) and (3) and even though...

§ 28:2–503. Manner of seller’s tender of delivery - (1) Tender of delivery requires that the seller put and...

§ 28:2–504. Shipment by seller - Where the seller is required or authorized to send the...

§ 28:2–505. Seller’s shipment under reservation - (1) Where the seller has identified goods to the contract...

§ 28:2–506. Rights of financing agency - (1) A financing agency by paying or purchasing for value...

§ 28:2–507. Effect of seller’s tender; delivery on condition - (1) Tender of delivery is a condition to the buyer’s...

§ 28:2–508. Cure by seller of improper tender or delivery; replacement - (1) Where any tender or delivery by the seller is...

§ 28:2–509. Risk of loss in the absence of breach - (1) Where the contract requires or authorizes the seller to...

§ 28:2–510. Effect of breach on risk of loss - (1) Where a tender or delivery of goods so fails...

§ 28:2–511. Tender of payment by buyer; payment by check - (1) Unless otherwise agreed tender of payment is a condition...

§ 28:2–512. Payment by buyer before inspection - (1) Where the contract requires payment before inspection non-conformity of...

§ 28:2–513. Buyer’s right to inspection of goods - (1) Unless otherwise agreed and subject to subsection (3), where...

§ 28:2–514. When documents deliverable on acceptance; when on payment - Unless otherwise agreed documents against which a draft is drawn...

§ 28:2–515. Preserving evidence of goods in dispute - In furtherance of the adjustment of any claim or dispute...

Part VI - Breach, Repudiation and Excuse

§ 28:2–601. Buyer’s rights on improper delivery - Subject to the provisions of this article on breach in...

§ 28:2–602. Manner and effect of rightful rejection - (1) Rejection of goods must be within a reasonable time...

§ 28:2–603. Merchant buyer’s duties as to rightfully rejected goods - (1) Subject to any security interest in the buyer (subsection...

§ 28:2–604. Buyer’s options as to salvage of rightfully rejected goods - Subject to the provisions of the immediately preceding section on...

§ 28:2–605. Waiver of buyer’s objections by failure to particularize - (1) The buyer’s failure to state in connection with rejection...

§ 28:2–606. What constitutes acceptance of goods - (1) Acceptance of goods occurs when the buyer (a) after...

§ 28:2–607. Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over - (1) The buyer must pay at the contract rate for...

§ 28:2–608. Revocation of acceptance in whole or in part - (1) The buyer may revoke his acceptance of a lot...

§ 28:2–609. Right to adequate assurance of performance - (1) A contract for sale imposes an obligation on each...

§ 28:2–610. Anticipatory repudiation - When either party repudiates the contract with respect to a...

§ 28:2–611. Retraction of anticipatory repudiation - (1) Until the repudiating party’s next performance is due he...

§ 28:2–612. “Installment contract”; breach - (1) An “installment contract” is one which requires or authorizes...

§ 28:2–613. Casualty to identified goods - Where the contract requires for its performance goods identified when...

§ 28:2–614. Substituted performance - (1) Where without fault of either party the agreed berthing,...

§ 28:2–615. Excuse by failure of presupposed conditions - Except so far as a seller may have assumed a...

§ 28:2–616. Procedure on notice claiming excuse - (1) Where the buyer receives notification of a material or...

Part VII - Remedies

§ 28:2–701. Remedies for breach of collateral contracts not impaired - Remedies for breach of any obligation or promise collateral or...

§ 28:2–702. Seller’s remedies on discovery of buyer’s insolvency - (1) Where the seller discovers the buyer to be insolvent...

§ 28:2–703. Seller’s remedies in general - Where the buyer wrongfully rejects or revokes acceptance of goods...

§ 28:2–704. Seller’s right to identify goods to the contract notwithstanding breach or to salvage unfinished goods - (1) An aggrieved seller under the preceding section may (a)...

§ 28:2–705. Seller’s stoppage of delivery in transit or otherwise - (1) The seller may stop delivery of goods in the...

§ 28:2–706. Seller’s resale including contract for resale - (1) Under the conditions stated in section 28:2-703 on seller’s...

§ 28:2–707. “Person in the position of a seller” - (1) A “person in the position of a seller” includes...

§ 28:2–708. Seller’s damages for non-acceptance or repudiation - (1) Subject to subsection (2) and to the provisions of...

§ 28:2–709. Action for the price - (1) When the buyer fails to pay the price as...

§ 28:2–710. Seller’s incidental damages - Incidental damages to an aggrieved seller include any commercially reasonable...

§ 28:2–711. Buyer’s remedies in general; buyer’s security interest in rejected goods - (1) Where the seller fails to make delivery or repudiates...

§ 28:2–712. “Cover”; buyer’s procurement of substitute goods - (1) After a breach within the preceding section the buyer...

§ 28:2–713. Buyer’s damages for non-delivery or repudiation - (1) Subject to the provisions of this article with respect...

§ 28:2–714. Buyer’s damages for breach in regard to accepted goods - (1) Where the buyer has accepted goods and given notification...

§ 28:2–715. Buyer’s incidental and consequential damages - (1) Incidental damages resulting from the seller’s breach include expenses...

§ 28:2–716. Buyer’s right to specific performance or replevin - (1) Specific performance may be decreed where the goods are...

§ 28:2–717. Deduction of damages from the price - The buyer on notifying the seller of his intention to...

§ 28:2–718. Liquidation or limitation of damages; deposits - (1) Damages for breach by either party may be liquidated...

§ 28:2–719. Contractual modification or limitation of remedy - (1) Subject to the provisions of subsections (2) and (3)...

§ 28:2–720. Effect of “cancellation” or “rescission” on claims for antecedent breach - Unless the contrary intention clearly appears, expressions of “cancellation” or...

§ 28:2–721. Remedies for fraud - Remedies for material misrepresentation or fraud include all remedies available...

§ 28:2–722. Who can sue third parties for injury to goods - Where a third party so deals with goods which have...

§ 28:2–723. Proof of market price: time and place - (1) If an action based on anticipatory repudiation comes to...

§ 28:2–724. Admissibility of market quotations - Whenever the prevailing price or value of any goods regularly...

§ 28:2–725. Statute of limitations in contracts for sale - (1) An action for breach of any contract for sale...

Article 2A - Leases

Part I - General Provisions

§ 28:2A–101. Short title - This article shall be known and may be cited as...

§ 28:2A–102. Scope - This article applies to any transaction, regardless of form, that...

§ 28:2A–103. Definitions and index of definitions - (a) In this article unless the context otherwise requires: (1)...

§ 28:2A–104. Leases subject to other law - (a) A lease, although subject to this article, is also...

§ 28:2A–105. Territorial application of article to goods covered by certificate of title - Subject to the provisions of §§ 28:2A-304(c) and 28:2A-305(c), with...

§ 28:2A–106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum - (a) If the law chosen by the parties to a...

§ 28:2A–107. Waiver or renunciation of claim or right after default - Any claim or right arising out of an alleged default...

§ 28:2A–108. Unconscionability - (a) If the court as a matter of law finds...

§ 28:2A–109. Option to accelerate at will - (a) A term providing that one party or his or...

Part II - Formation and Construction of Lease Contract

§ 28:2A–201. Statute of frauds - (a) A lease contract is not enforceable by way of...

§ 28:2A–202. Final written expression: parol or extrinsic evidence - Terms with respect to which the confirmatory memoranda of the...

§ 28:2A–203. Seals inoperative - The affixing of a seal to a writing evidencing a...

§ 28:2A–204. Formation in general - (a) A lease contract may be made in any manner...

§ 28:2A–205. Firm offers - An offer by a merchant to lease goods to or...

§ 28:2A–206. Offer and acceptance in formation of lease contract - (a) Unless otherwise unambiguously indicated by the language or circumstances,...

§ 28:2A–207. Course of performance or practical construction - Repealed. (July 22, 1992, D.C. Law 9-128, § 2(b), 39...

§ 28:2A–208. Modification, rescission, and waiver - (a) An agreement modifying a lease contract needs no consideration...

§ 28:2A–209. Lessee under finance lease as beneficiary of supply contract - (a) The benefit of a supplier’s promises to the lessor...

§ 28:2A–210. Express warranties - (a) Express warranties by the lessor are created as follows:...

§ 28:2A–211. Warranties against interference and against infringement; lessee’s obligation against infringement - (a) There is in a lease contract a warranty that...

§ 28:2A–212. Implied warranty of merchantability - (a) Except in a finance lease, a warranty that the...

§ 28:2A–213. Implied warranty of fitness for particular purpose - Except in a finance lease, if the lessor at the...

§ 28:2A–214. Exclusion or modification of warranties - (a) Words or conduct relevant to the creation of an...

§ 28:2A–215. Cumulation and conflict of warranties express or implied - Warranties, whether express or implied, must be construed as consistent...

§ 28:2A–216. Third party beneficiaries of express and implied warranties - A warranty to or for the benefit of a lessee...

§ 28:2A–217. Identification - Identification of goods as goods to which a lease contract...

§ 28:2A–218. Insurance and proceeds - (a) A lessee obtains an insurable interest when existing goods...

§ 28:2A–219. Risk of loss - (a) Except in the case of a finance lease, risk...

§ 28:2A–220. Effect of default on risk of loss - (a) Where risk of loss is to pass to the...

§ 28:2A–221. Casualty to identified goods - If a lease contract requires goods identified when the lease...

Part III - Effect of Lease Contract

§ 28:2A–301. Enforceability of lease contract - Except as otherwise provided in this article, a lease contract...

§ 28:2A–302. Title to and possession of goods - Except as otherwise provided in this article, each provision of...

§ 28:2A–303. Alienability of party’s interest under lease contract or of lessor’s residual interest in goods; delegation of performance; transfer of rights - (a) As used in this section, the term “creation of...

§ 28:2A–304. Subsequent lease of goods by lessor - (a) Subject to § 28:2A-303, a subsequent lessee from a...

§ 28:2A–305. Sale or sublease of goods by lessee - (a) Subject to the provisions of § 28:2A-303, a buyer...

§ 28:2A–306. Priority of certain liens arising by operation of law - If a person in the ordinary course of his or...

§ 28:2A–307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods - (a) Except as otherwise provided in § 28:2A-306, a creditor...

§ 28:2A–308. Special rights of creditors - (a) A creditor of a lessor in possession of goods...

§ 28:2A–309. Lessor’s and lessee’s rights when goods become fixtures - (a) In this section: (1) Goods are “fixtures” when they...

§ 28:2A–310. Lessor’s and lessee’s rights when goods become accessions - (a) Goods are “accessions” when they are installed in or...

§ 28:2A–311. Priority subject to subordination - Nothing in this article prevents subordination by agreement by any...

Part IV - Performance of Lease Contract: Repudiated, Substituted, and Excused

§ 28:2A–401. Insecurity: adequate assurance of performance - (a) A lease contract imposes an obligation on each party...

§ 28:2A–402. Anticipatory repudiation - If either party repudiates a lease contract with respect to...

§ 28:2A–403. Retraction of anticipatory repudiation - (a) Until the repudiating party’s next performance is due, the...

§ 28:2A–404. Substituted performance - (a) If without fault of the lessee, the lessor and...

§ 28:2A–405. Excused performance - Subject to § 28:2A-404 on substituted performance, the following rules...

§ 28:2A–406. Procedure on excused performance - (a) If the lessee receives notification of a material or...

§ 28:2A–407. Irrevocable promises: finance leases - (a) In the case of a finance lease that is...

Part V - Default

Subpart A - In General

§ 28:2A–501. Default: procedure - (a) Whether the lessor or the lessee is in default...

§ 28:2A–502. Notice after default - Except as otherwise provided in this article or the lease...

§ 28:2A–503. Modification or impairment of rights and remedies - (a) Except as otherwise provided in this article, the lease...

§ 28:2A–504. Liquidation of damages - (a) Damages payable by either party for default, or any...

§ 28:2A–505. Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies - (a) On cancellation of the lease contract, all obligations that...

§ 28:2A–506. Statute of limitations - (a) An action for default under a lease contract, including...

§ 28:2A–507. Proof of market rent: time and place - (a) Damages based on market rent (§ 28:2A-519 or §...

Subpart B - Default by Lessor

§ 28:2A–508. Lessee’s remedies - (a) If a lessor fails to deliver the goods in...

§ 28:2A–509. Lessee’s rights on improper delivery; rightful rejection - (a) Subject to the provisions of § 28:2A-510 on default...

§ 28:2A–510. Installment lease contracts: rejection and default - (a) Under an installment lease contract a lessee may reject...

§ 28:2A–511. Merchant lessee’s duties as to rightfully rejected goods - (a) Subject to any security interest of a lessee (§...

§ 28:2A–512. Lessee’s duties as to rightfully rejected goods - (a) Except as otherwise provided with respect to goods that...

§ 28:2A–513. Cure by lessor of improper tender or delivery; replacement - (a) If any tender or delivery by the lessor or...

§ 28:2A–514. Waiver of lessee’s objections - (a) In rejecting goods, a lessee’s failure to state a...

§ 28:2A–515. Acceptance of goods - (a) Acceptance of goods occurs after the lessee has had...

§ 28:2A–516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over - (a) A lessee must pay rent for any goods accepted...

§ 28:2A–517. Revocation of acceptance of goods - (a) A lessee may revoke acceptance of a lot or...

§ 28:2A–518. Cover; substitute goods - (a) After default by a lessor under the lease contract...

§ 28:2A–519. Lessee’s damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods - (a) Except as otherwise provided with respect to damages liquidated...

§ 28:2A–520. Lessee’s incidental and consequential damages - (a) Incidental damages resulting from a lessor’s default include expenses...

§ 28:2A–521. Lessee’s right to specific performance or replevin - (a) Specific performance may be decreed if the goods are...

§ 28:2A–522. Lessee’s right to goods on lessor’s insolvency - (a) Subject to subsection (b) of this section and even...

Subpart C - Default by Lessee

§ 28:2A–523. Lessor’s remedies - (a) If a lessee wrongfully rejects or revokes acceptance of...

§ 28:2A–524. Lessor’s right to identify goods to lease contract - (a) A lessor aggrieved under § 28:2A-523(a) may: (1) Identify...

§ 28:2A–525. Lessor’s right to possession of goods - (a) If a lessor discovers the lessee to be insolvent,...

§ 28:2A–526. Lessor’s stoppage of delivery in transit or otherwise - (a) A lessor may stop delivery of goods in the...

§ 28:2A–527. Lessor’s rights to dispose of goods - (a) After a default by a lessee under the lease...

§ 28:2A–528. Lessor’s damages for nonacceptance, failure to pay, repudiation, or other default - (a) Except as otherwise provided with respect to damages liquidated...

§ 28:2A–529. Lessor’s action for the rent - (a) After default by the lessee under the lease contract...

§ 28:2A–530. Lessor’s incidental damages - Incidental damages to an aggrieved lessor include any commercially reasonable...

§ 28:2A–531. Standing to sue third parties for injury to goods - (a) If a third party so deals with goods that...

§ 28:2A–532. Lessor’s rights to residual interest - In addition to any other necessary recovery permitted by this...

Article 3 - Negotiable Instruments

Part I - General Provisions and Definitions

§ 28:3–101. Short title - This article may be cited as the “Uniform Commercial Code—Negotiable...

§ 28:3–102. Subject matter - (a) This article applies to negotiable instruments. It does not...

§ 28:3–103. Definitions - (a) In this article, the term: (1) “Acceptor” means a...

§ 28:3–104. Negotiable instrument - (a) Except as provided in subsections (c) and (d) of...

§ 28:3–105. Issue of instrument - (a) “Issue” means the first delivery of an instrument by...

§ 28:3–106. Unconditional promise or order - (a) Except as provided in this section, for the purposes...

§ 28:3–107. Instrument payable in foreign money - Unless the instrument otherwise provides, an instrument that states the...

§ 28:3–108. Payable on demand or at definite time - (a) A promise or order is “payable on demand” if...

§ 28:3–109. Payable to bearer or to order - (a) A promise or order is payable to bearer if...

§ 28:3–110. Identification of person to whom instrument is payable - (a) The person to whom an instrument is initially payable...

§ 28:3–111. Place of payment - Except as otherwise provided for items in Article 4, an...

§ 28:3–112. Interest - (a) Unless otherwise provided in the instrument, (i) an instrument...

§ 28:3–113. Date of instrument - (a) An instrument may be antedated or postdated. The date...

§ 28:3–114. Contradictory terms of instrument - If an instrument contains contradictory terms, typewritten terms prevail over...

§ 28:3–115. Incomplete instrument - (a) “Incomplete instrument” means a signed writing, whether or not...

§ 28:3–116. Joint and several liability; contribution - Repealed. (Mar. 23, 1995, D.C. Law 10-249, § 2(d), 42...

§ 28:3–117. Other agreements affecting instrument - Subject to applicable law regarding exclusion of proof of contemporaneous...

§ 28:3–118. Statute of limitations - (a) Except as provided in subsection (e) of this section,...

§ 28:3–119. Notice of right to defend action - In an action for breach of an obligation for which...

Part II - Negotiation, Transfer, and Indorsement

§ 28:3–201. Negotiation - (a) “Negotiation” means a transfer of possession, whether voluntary or...

§ 28:3–202. Negotiation subject to rescission - (a) Negotiation is effective even if obtained (i) from an...

§ 28:3–203. Transfer of instrument; rights acquired by transfer - (a) An instrument is transferred when it is delivered by...

§ 28:3–204. Indorsement - (a) “Indorsement” means a signature, other than that of a...

§ 28:3–205. Special indorsement; blank indorsement; anomalous indorsement - (a) If an indorsement is made by the holder of...

§ 28:3–206. Restrictive indorsement - (a) An indorsement limiting payment to a particular person or...

§ 28:3–207. Reacquisition - Reacquisition of an instrument occurs if it is transferred to...

Part III - Enforcement of Instruments

§ 28:3–301. Person entitled to enforce instrument - Person entitled to enforce” an instrument means (i) the holder...

§ 28:3–302. Holder in due course - (a) Subject to subsection (c) of this section and section...

§ 28:3–303. Value and consideration - (a) An instrument is issued or transferred for value if:...

§ 28:3–304. Overdue instrument - (a) An instrument payable on demand becomes overdue at the...

§ 28:3–305. Defenses and claims in recoupment - (a) Except as otherwise provided in this section, the right...

§ 28:3–306. Claims to an instrument - A person taking an instrument, other than a person having...

§ 28:3–307. Notice of breach of fiduciary duty - (a) In this section: (1) “Fiduciary” means an agent, trustee,...

§ 28:3–308. Proof of signatures and status as holder in due course - (a) In an action with respect to an instrument, the...

§ 28:3–309. Enforcement of lost, destroyed, or stolen instrument - (a) A person not in possession of an instrument is...

§ 28:3–310. Effect of instrument on obligation for which taken - (a) Unless otherwise agreed, if a certified check, cashier’s check,...

§ 28:3–311. Accord and satisfaction by use of instrument - (a) If a person against whom a claim is asserted...

§ 28:3–312. Lost, destroyed, or stolen cashier’s check, teller’s check, or certified check - (a) For the purposes of this section, the term: (1)...

Part IV - Liability of Parties

§ 28:3–401. Signature - (a) A person is not liable on an instrument unless...

§ 28:3–402. Signature by representative - (a) If a person acting, or purporting to act, as...

§ 28:3–403. Unauthorized signature - (a) Unless otherwise provided in this article or Article 4,...

§ 28:3–404. Impostors; fictitious payees - (a) If an impostor, by use of the mails or...

§ 28:3–405. Employer’s responsibility for fraudulent indorsement by employee - (a) In this section, the term: (1) “Employee” includes an...

§ 28:3–406. Negligence contributing to forged signature or alteration of instrument - (a) A person whose failure to exercise ordinary care substantially...

§ 28:3–407. Alteration - (a) “Alteration” means (i) an unauthorized change in an instrument...

§ 28:3–408. Drawee not liable on unaccepted draft - A check or other draft does not of itself operate...

§ 28:3–409. Acceptance of draft; certified check - (a) “Acceptance” means the drawee’s signed agreement to pay a...

§ 28:3–410. Acceptance varying draft - (a) If the terms of a drawee’s acceptance vary from...

§ 28:3–411. Refusal to pay cashier’s checks, teller’s checks, and certified checks - (a) In this section, “obligated bank” means the acceptor of...

§ 28:3–412. Obligation of issuer of note or cashier’s check - The issuer of a note or cashier’s check or other...

§ 28:3–413. Obligation of acceptor - (a) The acceptor of a draft is obliged to pay...

§ 28:3–414. Obligation of drawer - (a) This section does not apply to cashier’s checks or...

§ 28:3–415. Obligation of indorser - (a) Subject to subsections (b), (c), (d), and (e) of...

§ 28:3–416. Transfer warranties - (a) A person who transfers an instrument for consideration warrants...

§ 28:3–417. Presentment warranties - (a) If an unaccepted draft is presented to the drawee...

§ 28:3–418. Payment or acceptance by mistake - (a) Except as provided in subsection (c) of this section,...

§ 28:3–419. Instruments signed for accommodation - (a) If an instrument is issued for value given for...

§ 28:3–420. Conversion of instrument - (a) The law applicable to conversion of personal property applies...

Part V - Dishonor

§ 28:3–501. Presentment - (a) “Presentment” means a demand made by or on behalf...

§ 28:3–502. Dishonor - (a) Dishonor of a note is governed by the following...

§ 28:3–503. Notice of dishonor - (a) The obligation of an indorser stated in section 28:3-415(a)...

§ 28:3–504. Excused presentment and notice of dishonor - (a) Presentment for payment or acceptance of an instrument is...

§ 28:3–505. Evidence of dishonor - (a) The following are admissible as evidence and create a...

Part VI - Discharge and Payment

§ 28:3–601. Discharge and effect of discharge - (a) The obligation of a party to pay the instrument...

§ 28:3–602. Payment - (a) Subject to subsection (e) of this section, an instrument...

§ 28:3–603. Tender of payment - (a) If tender of payment of an obligation to pay...

§ 28:3–604. Discharge by cancellation or renunciation - (a) A person entitled to enforce an instrument, with or...

§ 28:3–605. Discharge of secondary obligors - (a) If a person entitled to enforce an instrument releases...

Article 4 - Bank Deposits and Collections

Part 1 - General Provisions and Definitions

§ 28:4–101. Short title - This article may be cited as “Uniform Commercial Code—Bank Deposits...

§ 28:4–102. Applicability - (a) To the extent that items within this article are...

§ 28:4–103. Variation by agreement; measure of damages; action constituting ordinary care - (a) The effect of the provisions of this article may...

§ 28:4–104. Definitions and index of definitions - (a) In this article, unless the context otherwise requires, the...

§ 28:4–105. Definitions of types of banks - In this article, the term: (1) “Bank” means a person...

§ 28:4–106. Payable through or payable at bank; collecting bank - (a) If an item states that it is “payable through”...

§ 28:4–107. Separate office of bank - A branch or separate office of a bank is a...

§ 28:4–108. Time of receipt of items - (a) For the purpose of allowing time to process items,...

§ 28:4–109. Delays - (a) Unless otherwise instructed, a collecting bank in a good...

§ 28:4–110. Electronic presentment - (a) “Agreement for electronic presentment” means an agreement, clearing-house rule,...

§ 28:4–111. Statute of limitations - An action to enforce an obligation, duty, or right arising...

Part 2 - Collection of Items: Depositary and Collecting Banks

§ 28:4–201. Status of collecting bank as agent and provisional status of credits; applicability of article; item indorsed “pay any bank” - (a) Unless a contrary intent clearly appears and before the...

§ 28:4–202. Responsibility for collection or return; when action timely - (a) A collecting bank must exercise ordinary care in: (1)...

§ 28:4–203. Effect of instructions - Subject to Article 3 concerning conversion of instruments (section 28:3-420...

§ 28:4–204. Methods of sending and presenting; sending directly to payor bank - (a) A collecting bank shall send items by a reasonably...

§ 28:4–205. Depositary bank holder of unindorsed item - If a customer delivers an item to a depositary bank...

§ 28:4–206. Transfer between banks - Any agreed method that identifies the transferor bank is sufficient...

§ 28:4–207. Transfer warranties - (a) A customer or collecting bank that transfers an item...

§ 28:4–208. Presentment warranties - (a) If an unaccepted draft is presented to the drawee...

§ 28:4–209. Encoding and retention warranties - (a) A person who encodes information on or with respect...

§ 28:4–210. Security interest of collecting bank in items, accompanying documents, and proceeds - (a) A collecting bank has a security interest in an...

§ 28:4–211. When bank gives value for purposes of holder in due course - For purposes of determining its status as a holder in...

§ 28:4–212. Presentment by notice of item not payable by, through, or at bank; liability of drawer or indorser - (a) Unless otherwise instructed, a collecting bank may present an...

§ 28:4–213. Medium and time of settlement by bank - (a) With respect to settlement by a bank, the medium...

§ 28:4–214. Right of charge-back or refund; liability of collecting bank; return of item - (a) If a collecting bank has made provisional settlement with...

§ 28:4–215. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal - (a) An item is finally paid by a payor bank...

§ 28:4–216. Insolvency and preference - (a) If an item is in or comes into the...

Part 3 - Collection of Items: Payor Banks

§ 28:4–301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank - (a) If a payor bank settles for a demand item...

§ 28:4–302. Payor bank’s responsibility for late return of item - (a) If an item is presented to and received by...

§ 28:4–303. When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified - (a) Any knowledge, notice, or stop-payment order received by, legal...

§ 28:4–401. When bank may charge customer’s account - (a) A bank may charge against the account of a...

§ 28:4–402. Bank’s liability to customer for wrongful dishonor; time of determining insufficiency of account - (a) Except as otherwise provided in this article, a payor...

§ 28:4–403. Customer’s right to stop payment; burden of proof of loss - (a) A customer, or any person authorized to draw on...

§ 28:4–404. Bank not obliged to pay check more than 6 months old - A bank is under no obligation to a customer having...

§ 28:4–405. Death or incompetence of customer - (a) A payor or collecting bank’s authority to accept, pay,...

§ 28:4–406. Customer’s duty to discover and report unauthorized signature or alteration - (a) A bank that sends or makes available to a...

§ 28:4–407. Payor bank’s right to subrogation on improper payment - If a payor bank has paid an item over the...

§ 28:4–501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor - A bank that takes a documentary draft for collection shall...

§ 28:4–502. Presentment of “on arrival” drafts - If a draft or the relevant instructions require presentment “on...

§ 28:4–503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need - Unless otherwise instructed and except as provided in Article 5,...

§ 28:4–504. Privilege of presenting bank to deal with goods; security interest for expenses - (a) A presenting bank that, following the dishonor of a...

Article 4A - Funds Transfers

Part 1 - Subject Matter and Definitions

§ 28:4A–101. Short title - This article may be cited as “Uniform Commercial Code —...

§ 28:4A–102. Subject matter - Except as otherwise provided in § 28:4A-108, this article applies...

§ 28:4A–103. Payment order — definitions - (a) In this article: (1) “Beneficiary” means the person to...

§ 28:4A–104. Funds transfer — definitions - In this article: (1) “Funds transfer” means the series of...

§ 28:4A–105. Other definitions - (a) In this article: (1) “Authorized account” means a deposit...

§ 28:4A–106. Time payment order is received - (a) The time of receipt of a payment order or...

§ 28:4A–107. Federal Reserve regulations and operating circulars - Regulations of the Board of Governors of the Federal Reserve...

§ 28:4A–108. Relationship to Electronic Fund Transfers Act - (a) Except as otherwise provided in subsection (b) of this...

§ 28:4A–201. Security procedure - Security procedure” means a procedure established by agreement of a...

§ 28:4A–202. Authorized and verified payment orders - (a) A payment order received by the receiving bank is...

§ 28:4A–203. Unenforceability of certain verified payment orders - (a) If an accepted payment order is not, under §...

§ 28:4A–204. Refund of payment and duty of customer to report with respect to unauthorized payment order - (a) If a receiving bank accepts a payment order issued...

§ 28:4A–205. Erroneous payment orders - (a) If an accepted payment order was transmitted pursuant to...

§ 28:4A–206. Transmission of payment order through funds-transfer or other communication system - (a) If a payment order addressed to a receiving bank...

§ 28:4A–207. Misdescription of beneficiary - (a) Subject to subsection (b) of this section, if, in...

§ 28:4A–208. Misdescription of intermediary bank or beneficiary’s bank - (a) This subsection applies to a payment order identifying an...

§ 28:4A–209. Acceptance of payment order - (a) Subject to subsection (d) of this section, a receiving...

§ 28:4A–210. Rejection of payment order - (a) A payment order is rejected by the receiving bank...

§ 28:4A–211. Cancellation and amendment of payment order - (a) A communication of the sender of a payment order...

§ 28:4A–212. Liability and duty of receiving bank regarding unaccepted payment order - If a receiving bank fails to accept a payment order...

§ 28:4A–301. Execution and execution date - (a) A payment order is “executed” by the receiving bank...

§ 28:4A–302. Obligations of receiving bank in execution of payment order - (a) Except as provided in subsections (b) through (d) of...

§ 28:4A–303. Erroneous execution of payment order - (a) A receiving bank that (i) executes the payment order...

§ 28:4A–304. Duty of sender to report erroneously executed payment order - If the sender of a payment order that is erroneously...

§ 28:4A–305. Liability for late or improper execution or failure to execute payment order - (a) If a funds transfer is completed but execution of...

§ 28:4A–401. Payment date - Payment date” of a payment order means the day on...

§ 28:4A–402. Obligation of sender to pay receiving bank - (a) This section is subject to §§ 28:4A-205 and 28:4A-207....

§ 28:4A–403. Payment by sender to receiving bank - (a) Payment of the sender’s obligation under § 28:4A-402 to...

§ 28:4A–404. Obligation of beneficiary’s bank to pay and give notice to beneficiary - (a) Subject to §§ 28:4A-211(e), 28:4A-405(d), and 28:4A-405(e), if a...

§ 28:4A–405. Payment by beneficiary’s bank to beneficiary - (a) If the beneficiary’s bank credits an account of the...

§ 28:4A–406. Payment by originator to beneficiary; discharge of underlying obligation - (a) Subject to §§ 28:4A-211(e), 28:4A-405(d), and 28:4A-405(e), the originator...

§ 28:4A–501. Variation by agreement and effect of funds-transfer system rule - (a) Except as otherwise provided in this article, the rights...

§ 28:4A–502. Creditor process served on receiving bank; setoff by beneficiary’s bank - (a) As used in this section, “creditor process” means levy,...

§ 28:4A–503. Injunction or restraining order with respect to funds transfer - For proper cause and in compliance with applicable law, a...

§ 28:4A–504. Order in which items and payment orders may be charged to account; order of withdrawals from account - (a) If a receiving bank has received more than one...

§ 28:4A–505. Preclusion of objection to debit of customer’s account - If a receiving bank has received payment from its customer...

§ 28:4A–506. Rate of interest - (a) If, under this article, a receiving bank is obliged...

§ 28:4A–507. Choice of law - (a) The following rules apply unless the affected parties otherwise...

Article 5 - Letters of Credit

§ 28:5–101. Indemnities - This article may be cited as “Uniform Commercial Code—Letters of...

§ 28:5–102. Definitions - (a) For the purposes of this article, the term: (1)...

§ 28:5–103. Scope - (a) This article applies to letters of credit and to...

§ 28:5–104. Formal requirements - A letter of credit, confirmation, advice, transfer, amendment, or cancellation...

§ 28:5–105. Consideration - Consideration is not required to issue, amend, transfer, or cancel...

§ 28:5–106. Issuance, amendment, cancellation, and duration - (a) A letter of credit is issued and becomes enforceable...

§ 28:5–107. Confirmer, nominated person, and adviser - (a) A confirmer is directly obligated on a letter of...

§ 28:5–108. Issuer’s rights and obligations - (a) Except as otherwise provided in § 28:5-109, an issuer...

§ 28:5–109. Fraud and forgery - (a) If a presentation is made that appears on its...

§ 28:5–110. Warranties - (a) If its presentation is honored, the beneficiary warrants: (1)...

§ 28:5–111. Remedies - (a) If an issuer wrongfully dishonors or repudiates its obligation...

§ 28:5–112. Transfer of letter of credit - (a) Except as otherwise provided in § 28:5-113, unless a...

§ 28:5–113. Transfer by operation of law - (a) A successor of a beneficiary may consent to amendments,...

§ 28:5–114. Assignment of proceeds - (a) In this section, the term “proceeds of a letter...

§ 28:5–115. Statute of limitations - An action to enforce a right or obligation arising under...

§ 28:5–116. Choice of law and forum - (a) The liability of an issuer, nominated person, or adviser...

§ 28:5–117. Subrogation of issuer, applicant, and nominated person - (a) An issuer that honors a beneficiary’s presentation is subrogated...

§ 28:5–118. Applicability - This article applies to a letter of credit that is...

§ 28:5–119. Savings clause - A transaction arising out of or associated with a letter...

§ 28:5–120. Security interest of issuer or nominated person - (a) An issuer or nominated person has a security interest...

Article 6 - Bulk Transfers

§ 28:6–101. Short title. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 714, Pub. L. 88-243,...

§ 28:6–102. Definitions and index of definitions. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 714, Pub. L. 88-243,...

§ 28:6–103. Applicability of article. [Repealed] - (Dec. 30, 1963, 77 Stat. 714, Pub. L. 88-243, §...

§ 28:6–104. Obligations of buyer. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 715, Pub. L. 88-243,...

§ 28:6–105. Notice to claimants. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 715, Pub. L. 88-243,...

§ 28:6–106. Schedule of distribution. [Repealed] - Repealed. (Apr. 9, 1997, D.C. Law 11-239, § 2, 44...

§ 28:6–107. Liability for noncompliance. [Repealed] - Repealed. (Apr. 9, 1997, D.C. Law 11-239, § 2, 44...

§ 28:6–108. Bulk sales by auction; bulk sales conducted by liquidator. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 716, Pub. L. 88-243,...

§ 28:6–109. What constitutes filing; duties of filing officer; information from filing officer. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 716, Pub. L. 88-243,...

§ 28:6–110. Limitation of actions. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 717, Pub. L. 88-243,...

§ 28:6–111. Limitation of actions and levies. [Repealed] - Repealed. (Dec. 30, 1963, 77 Stat. 717, Pub. L. 88-243,...

§ 28:6–112. Compliance with section 47-4461. [Repealed] - Repealed. (June 9, 2001, D.C. Law 13-305, § 407(b), 48...

Article 7 - Documents of Title

Part 1 - General

§ 28:7–101. Short title - This article may be cited as the “Uniform Commercial Code...

§ 28:7–102. Definitions and index of definitions - (a) In this article, unless the context otherwise requires, the...

§ 28:7–103. Relation of article to treaty or statute - (a) This article is subject to any treaty or statute...

§ 28:7–104. Negotiable and nonnegotiable document of title - (a) Except as otherwise provided in subsection (c) of this...

§ 28:7–105. Reissuance in alternative medium - (a) Upon request of a person entitled under an electronic...

§ 28:7–106. Control of electronic document of title - (a) A person has control of an electronic document of...

§ 28:7–201. Person that may issue a warehouse receipt; storage under bond - (a) A warehouse receipt may be issued by any warehouse....

§ 28:7–202. Form of warehouse receipt; effect of omission - (a) A warehouse receipt need not be in any particular...

§ 28:7–203. Liability for nonreceipt or misdescription - A party to or purchaser for value in good faith...

§ 28:7–204. Duty of care; contractual limitation of warehouse’s liability - (a) A warehouse is liable for damages for loss of...

§ 28:7–205. Title under warehouse receipt defeated in certain cases - A buyer in ordinary course of business of fungible goods...

§ 28:7–206. Termination of storage at warehouse’s option - (a) A warehouse, by giving notice to the person on...

§ 28:7–207. Goods must be kept separate; fungible goods - (a) Unless the warehouse receipt provides otherwise, a warehouse shall...

§ 28:7–208. Altered warehouse receipts - If a blank in a negotiable tangible warehouse receipt has...

§ 28:7–209. Lien of warehouse - (a) A warehouse has a lien against the bailor on...

§ 28:7–210. Enforcement of warehouse’s lien - (a)(1) Except as otherwise provided in subsection (b) of this...

§ 28:7–301. Liability for nonreceipt or misdescription; “Said to contain”; “Shipper’s weight, load, and count”; improper handling - (a) A consignee of a nonnegotiable bill of lading which...

§ 28:7–302. Through bills of lading and similar documents of title - (a) The issuer of a through bill of lading, or...

§ 28:7–303. Diversion; reconsignment; change of instructions - (a) Unless the bill of lading otherwise provides, a carrier...

§ 28:7–304. Tangible bills of lading in a set - (a) Except as customary in international transportation, a tangible bill...

§ 28:7–305. Destination bills - (a) Instead of issuing a bill of lading to the...

§ 28:7–306. Altered bills of lading - An unauthorized alteration or filling in of a blank in...

§ 28:7–307. Lien of carrier - (a) A carrier has a lien on the goods covered...

§ 28:7–308. Enforcement of carrier’s lien - (a)(1) A carrier’s lien on goods may be enforced by...

§ 28:7–309. Duty of care; contractual limitation of carrier’s liability - (a) A carrier that issues a bill of lading, whether...

§ 28:7–401. Irregularities in issue of receipt or bill or conduct of issuer - The obligations imposed by this article on an issuer apply...

§ 28:7–402. Duplicate document of title; overissue - A duplicate or any other document of title purporting to...

§ 28:7–403. Obligation of bailee to deliver; excuse - (a) A bailee shall deliver the goods to a person...

§ 28:7–404. No liability for good-faith delivery pursuant to document of title - A bailee that in good faith has received goods and...

§ 28:7–501. Form of negotiation and requirements of due negotiation - (a) The following rules apply to a negotiable tangible document...

§ 28:7–502. Rights acquired by due negotiation - (a) Subject to §§ 28:7-205 and 28:7-503, a holder to...

§ 28:7–503. Document of title to goods defeated in certain cases - (a) A document of title confers no right in goods...

§ 28:7–504. Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery - (a) A transferee of a document of title, whether negotiable...

§ 28:7–505. Indorser not guarantor for other parties - The indorsement of a tangible document of title issued by...

§ 28:7–506. Delivery without indorsement: right to compel indorsement - The transferee of a negotiable tangible document of title has...

§ 28:7–507. Warranties on negotiation or delivery of document of title - If a person negotiates or delivers a document of title...

§ 28:7–508. Warranties of collecting bank as to documents of title - A collecting bank or other intermediary known to be entrusted...

§ 28:7–509. Adequate compliance with commercial contract - Whether a document of title is adequate to fulfill the...

§ 28:7–601. Lost, stolen, or destroyed documents of title - (a) If a document of title is lost, stolen, or...

§ 28:7–602. Judicial process against goods covered by negotiable document of title - Unless a document of title was originally issued upon delivery...

§ 28:7–603. Conflicting claims; interpleader - If more than one person claims title to or possession...

§ 28:7–701. Applicability - This article applies to a document of title that is...

§ 28:7–702. Savings clause - A document of title issued or a bailment that arises...

Article 8 - Investment Securities

Part I - Short Title and General Matters

§ 28:8–101. Short title - This article may be cited as “Uniform Commercial Code—Investment Securities.”...

§ 28:8–102. Definitions - (a) For the purposes of this article, the term: (1)...

§ 28:8–103. Rules for determining whether certain obligations and interests are securities or financial assets - (a) A share or similar equity interest issued by a...

§ 28:8–104. Acquisition of security or financial asset or interest therein - (a) A person acquires a security or an interest therein,...

§ 28:8–105. Notice of adverse claim - (a) A person has notice of an adverse claim if:...

§ 28:8–106. Control - (a) A purchaser has “control” of a certificated security in...

§ 28:8–107. Whether indorsement, instruction, or entitlement order is effective - (a) For the purposes of this article, the term “appropriate...

§ 28:8–108. Warranties in direct holding - (a) A person who transfers a certificated security to a...

§ 28:8–109. Warranties in indirect holding - (a) A person who originates an entitlement order to a...

§ 28:8–110. Applicability; choice of law - (a) The local law of the issuer’s jurisdiction, as specified...

§ 28:8–111. Clearing corporation rules - A rule adopted by a clearing corporation governing rights and...

§ 28:8–112. Creditor’s legal process - (a) The interest of a debtor in a certificated security...

§ 28:8–113. Statute of frauds inapplicable - A contract or modification of a contract for the sale...

§ 28:8–114. Evidentiary rules concerning certificated securities - The following rules apply in an action on a certificated...

§ 28:8–115. Securities intermediary and others not liable to adverse claimant - A securities intermediary that has transferred a financial asset pursuant...

§ 28:8–116. Securities intermediary as purchaser for value - A securities intermediary that receives a financial asset and establishes...

Part II - Issue and Issuer

§ 28:8–201. Issuer - (a) With respect to an obligation on or a defense...

§ 28:8–202. Issuer’s responsibility and defenses; notice of defect or defense - (a) Even against a purchaser for value and without notice,...

§ 28:8–203. Staleness as notice of defect or defense - After an act or event, other than a call that...

§ 28:8–204. Effect of issuer’s restriction on transfer - A restriction on transfer of a security imposed by the...

§ 28:8–205. Effect of unauthorized signature on security certificate - An unauthorized signature placed on a security certificate before or...

§ 28:8–206. Completion or alteration of security certificate - (a) If a security certificate contains the signatures necessary to...

§ 28:8–207. Rights and duties of issuer with respect to registered owners - (a) Before due presentment for registration of transfer of a...

§ 28:8–208. Effect of signature of authenticating trustee, registrar, or transfer agent - (a) A person signing a security certificate as authenticating trustee,...

§ 28:8–209. Issuer’s lien - A lien in favor of an issuer upon a certificated...

§ 28:8–210. Overissue - (a) For the purposes of this section the term “overissue”...

Part III - Transfer of Certificated and Uncertificated Securities

§ 28:8–301. Delivery - (a) Delivery of a certificated security to a purchaser occurs...

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District of Columbia Code Title 28 - Commercial Instruments and Transactions. [Enacted title] Subtitle I - Uniform Commercial Code

District of Columbia Code
Title 28 - Commercial Instruments and Transactions. [Enacted title]
Subtitle I - Uniform Commercial Code