(1) Of any holder in due course on the item against the drawer or maker;
(2) Of the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose; and
(3) Of the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.
History.—s. 1, ch. 65-254; s. 44, ch. 92-82.
Note.—s. 4-407, U.C.C.; supersedes s. 659.34.
Structure Florida Statutes
Title XXXIX - Commercial Relations
Chapter 674 - Uniform Commercial Code: Bank Deposits and Collections
Part IV - Relationship Between Payor Bank and Its Customer (Ss. 674.401-674.407)
674.401 - When bank may charge customer’s account.
674.403 - Customer’s right to stop payment; burden of proof of loss.
674.404 - Bank not obliged to pay check more than 6 months old.
674.405 - Death or incompetence of customer.
674.406 - Customer’s duty to discover and report unauthorized signature or alteration.
674.407 - Payor bank’s right to subrogation on improper payment.