Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS

Section 28-1-103 - CONSTRUCTION OF UNIFORM COMMERCIAL CODE TO PROMOTE ITS PURPOSES AND POLICIES — APPLICABILITY OF SUPPLEMENTAL PRINCIPLES OF LAW. - 28-1-103. CONSTRUCTION OF UNIFORM COMMERCIAL CODE TO PROMOTE ITS PURPOSES...

Section 28-1-104 - CONSTRUCTION AGAINST IMPLIED REPEAL. - 28-1-104. CONSTRUCTION AGAINST IMPLIED REPEAL. The uniform commercial code being...

Section 28-1-105 - SEVERABILITY. - 28-1-105. SEVERABILITY. If any provision or clause of the uniform...

Section 28-1-106 - USE OF SINGULAR AND PLURAL — GENDER. - 28-1-106. USE OF SINGULAR AND PLURAL — GENDER. In the...

Section 28-1-107 - SECTION CAPTIONS. - 28-1-107. SECTION CAPTIONS. Section captions are part of the uniform...

Section 28-1-108 - RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT. - 28-1-108. RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE...

Part 2 - GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION

Section 28-1-201 - GENERAL DEFINITIONS. - 28-1-201. GENERAL DEFINITIONS. (a) Unless the context otherwise requires, words...

Section 28-1-202 - NOTICE — KNOWLEDGE. - 28-1-202. NOTICE — KNOWLEDGE. (a) Subject to subsection (f) of...

Section 28-1-203 - LEASE DISTINGUISHED FROM SECURITY INTEREST. - 28-1-203. LEASE DISTINGUISHED FROM SECURITY INTEREST. (a) Whether a transaction...

Section 28-1-204 - VALUE. - 28-1-204. VALUE. Except as otherwise provided in chapters 3, 4,...

Section 28-1-205 - REASONABLE TIME — SEASONABLENESS. - 28-1-205. REASONABLE TIME — SEASONABLENESS. (a) Whether a time for...

Section 28-1-206 - PRESUMPTIONS. - 28-1-206. PRESUMPTIONS. Whenever the uniform commercial code creates a "presumption"...

Part 3 - TERRITORIAL APPLICABILITY AND GENERAL RULES

Section 28-1-301 - TERRITORIAL APPLICATION OF THE UNIFORM COMMERCIAL CODE — PARTIES’ POWER TO CHOOSE APPLICABLE LAW. - 28-1-301. TERRITORIAL APPLICATION OF THE UNIFORM COMMERCIAL CODE — PARTIES’...

Section 28-1-302 - VARIATION BY AGREEMENT. - 28-1-302. VARIATION BY AGREEMENT. (a) Except as otherwise provided in...

Section 28-1-303 - COURSE OF PERFORMANCE, COURSE OF DEALING, AND USAGE OF TRADE. - 28-1-303. COURSE OF PERFORMANCE, COURSE OF DEALING, AND USAGE OF...

Section 28-1-304 - OBLIGATION OF GOOD FAITH. - 28-1-304. OBLIGATION OF GOOD FAITH. Every contract or duty within...

Section 28-1-305 - REMEDIES TO BE LIBERALLY ADMINISTERED. - 28-1-305. REMEDIES TO BE LIBERALLY ADMINISTERED. (a) The remedies provided...

Section 28-1-306 - WAIVER OR RENUNCIATION OF CLAIM OR RIGHT AFTER BREACH. - 28-1-306. WAIVER OR RENUNCIATION OF CLAIM OR RIGHT AFTER BREACH....

Section 28-1-307 - PRIMA FACIE EVIDENCE BY THIRD PARTY DOCUMENTS. - 28-1-307. PRIMA FACIE EVIDENCE BY THIRD PARTY DOCUMENTS. A document...

Section 28-1-308 - PERFORMANCE OR ACCEPTANCE UNDER RESERVATION OF RIGHTS. - 28-1-308. PERFORMANCE OR ACCEPTANCE UNDER RESERVATION OF RIGHTS. (a) A...

Section 28-1-309 - OPTION TO ACCELERATE AT WILL. - 28-1-309. OPTION TO ACCELERATE AT WILL. A term providing that...

Section 28-1-310 - SUBORDINATED OBLIGATIONS. - 28-1-310. SUBORDINATED OBLIGATIONS. An obligation may be issued as subordinated...

Chapter 2 - UNIFORM COMMERCIAL CODE — SALES

Part 1 - SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER

Section 28-2-101 - SHORT TITLE. - 28-2-101. SHORT TITLE. This chapter shall be known and may...

Section 28-2-102 - SCOPE — CERTAIN SECURITY AND OTHER TRANSACTIONS EXCLUDED FROM THIS CHAPTER. - 28-2-102. SCOPE — CERTAIN SECURITY AND OTHER TRANSACTIONS EXCLUDED FROM...

Section 28-2-103 - DEFINITIONS AND INDEX OF DEFINITIONS. - 28-2-103. DEFINITIONS AND INDEX OF DEFINITIONS. (1) In this chapter...

Section 28-2-104 - DEFINITIONS — “MERCHANT” — “BETWEEN MERCHANTS” — “FINANCING AGENCY.” - 28-2-104. DEFINITIONS — "MERCHANT" — "BETWEEN MERCHANTS" — "FINANCING AGENCY."...

Section 28-2-105 - DEFINITIONS — TRANSFERABILITY — “GOODS” — “FUTURE” GOODS — “LOT” — “COMMERCIAL UNIT.” - 28-2-105. DEFINITIONS — TRANSFERABILITY — "GOODS" — "FUTURE" GOODS —...

Section 28-2-106 - DEFINITIONS — “CONTRACT” — “AGREEMENT” — “CONTRACT FOR SALE” — “SALE” — “PRESENT SALE” — “CONFORMING” TO CONTRACT — “TERMINATION” — “CANCELLATION.” - 28-2-106. DEFINITIONS — "CONTRACT" — "AGREEMENT" — "CONTRACT FOR SALE"...

Section 28-2-107 - GOODS TO BE SEVERED FROM REALTY — RECORDING. - 28-2-107. GOODS TO BE SEVERED FROM REALTY — RECORDING. (1)...

Part 2 - FORM, FORMATION AND READJUSTMENT OF CONTRACT

Section 28-2-201 - FORMAL REQUIREMENTS — STATUTE OF FRAUDS. - 28-2-201. FORMAL REQUIREMENTS — STATUTE OF FRAUDS. (1) Except as...

Section 28-2-202 - FINAL WRITTEN EXPRESSION — PAROL OR EXTRINSIC EVIDENCE. - 28-2-202. FINAL WRITTEN EXPRESSION — PAROL OR EXTRINSIC EVIDENCE. Terms...

Section 28-2-203 - SEALS INOPERATIVE. - 28-2-203. SEALS INOPERATIVE. The affixing of a seal to a...

Section 28-2-204 - FORMATION IN GENERAL. - 28-2-204. FORMATION IN GENERAL. (1) A contract for sale of...

Section 28-2-205 - FIRM OFFERS. - 28-2-205. FIRM OFFERS. An offer by a merchant to buy...

Section 28-2-206 - OFFER AND ACCEPTANCE IN FORMATION OF CONTRACT. - 28-2-206. OFFER AND ACCEPTANCE IN FORMATION OF CONTRACT. (1) Unless...

Section 28-2-207 - ADDITIONAL TERMS IN ACCEPTANCE OR CONFIRMATION. - 28-2-207. ADDITIONAL TERMS IN ACCEPTANCE OR CONFIRMATION. (1) A definite...

Section 28-2-209 - MODIFICATION, RESCISSION AND WAIVER. - 28-2-209. MODIFICATION, RESCISSION AND WAIVER. (1) An agreement modifying a...

Section 28-2-210 - DELEGATION OF PERFORMANCE — ASSIGNMENT OF RIGHTS. - 28-2-210. DELEGATION OF PERFORMANCE — ASSIGNMENT OF RIGHTS. (1) A...

Part 3 - GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT

Section 28-2-301 - GENERAL OBLIGATIONS OF PARTIES. - 28-2-301. GENERAL OBLIGATIONS OF PARTIES. The obligation of the seller...

Section 28-2-302 - UNCONSCIONABLE CONTRACT OR CLAUSE. - 28-2-302. UNCONSCIONABLE CONTRACT OR CLAUSE. (1) If the court as...

Section 28-2-303 - ALLOCATION OR DIVISION OF RISKS. - 28-2-303. ALLOCATION OR DIVISION OF RISKS. Where this chapter allocates...

Section 28-2-304 - PRICE PAYABLE IN MONEY, GOODS, REALTY, OR OTHERWISE. - 28-2-304. PRICE PAYABLE IN MONEY, GOODS, REALTY, OR OTHERWISE. (1)...

Section 28-2-305 - OPEN PRICE TERM. - 28-2-305. OPEN PRICE TERM. (1) The parties if they so...

Section 28-2-306 - OUTPUT, REQUIREMENTS AND EXCLUSIVE DEALINGS. - 28-2-306. OUTPUT, REQUIREMENTS AND EXCLUSIVE DEALINGS. (1) A term which...

Section 28-2-307 - DELIVERY IN SINGLE LOT OR SEVERAL LOTS. - 28-2-307. DELIVERY IN SINGLE LOT OR SEVERAL LOTS. Unless otherwise...

Section 28-2-308 - ABSENCE OF SPECIFIED PLACE FOR DELIVERY. - 28-2-308. ABSENCE OF SPECIFIED PLACE FOR DELIVERY. Unless otherwise agreed...

Section 28-2-309 - ABSENCE OF SPECIFIC TIME PROVISIONS — NOTICE OF TERMINATION. - 28-2-309. ABSENCE OF SPECIFIC TIME PROVISIONS — NOTICE OF TERMINATION....

Section 28-2-310 - OPEN TIME FOR PAYMENT OR RUNNING OF CREDIT — AUTHORITY TO SHIP UNDER RESERVATION. - 28-2-310. OPEN TIME FOR PAYMENT OR RUNNING OF CREDIT —...

Section 28-2-311 - OPTIONS AND COOPERATION RESPECTING PERFORMANCE. - 28-2-311. OPTIONS AND COOPERATION RESPECTING PERFORMANCE. (1) An agreement for...

Section 28-2-312 - WARRANTY OF TITLE AND AGAINST INFRINGEMENT — BUYER’S OBLIGATION AGAINST INFRINGEMENT. - 28-2-312. WARRANTY OF TITLE AND AGAINST INFRINGEMENT — BUYER’S OBLIGATION...

Section 28-2-313 - EXPRESS WARRANTIES BY AFFIRMATION, PROMISE, DESCRIPTION, SAMPLE. - 28-2-313. EXPRESS WARRANTIES BY AFFIRMATION, PROMISE, DESCRIPTION, SAMPLE. (1) Express...

Section 28-2-314 - IMPLIED WARRANTY — MERCHANTABILITY — USAGE OF TRADE. - 28-2-314. IMPLIED WARRANTY — MERCHANTABILITY — USAGE OF TRADE. (1)...

Section 28-2-315 - IMPLIED WARRANTY — FITNESS FOR PARTICULAR PURPOSE. - 28-2-315. IMPLIED WARRANTY — FITNESS FOR PARTICULAR PURPOSE. Where the...

Section 28-2-316 - EXCLUSION OR MODIFICATION OF WARRANTIES. - 28-2-316. EXCLUSION OR MODIFICATION OF WARRANTIES. (1) Words or conduct...

Section 28-2-317 - CUMULATION AND CONFLICT OF WARRANTIES EXPRESS OR IMPLIED. - 28-2-317. CUMULATION AND CONFLICT OF WARRANTIES EXPRESS OR IMPLIED. Warranties...

Section 28-2-318 - THIRD PARTY BENEFICIARIES OF WARRANTIES EXPRESS OR IMPLIED. - 28-2-318. THIRD PARTY BENEFICIARIES OF WARRANTIES EXPRESS OR IMPLIED. A...

Section 28-2-319 - F.O.B. AND F.A.S. TERMS. - 28-2-319. F.O.B. AND F.A.S. TERMS. (1) Unless otherwise agreed the...

Section 28-2-320 - C.I.F. AND C. & F. TERMS. - 28-2-320. C.I.F. AND C. & F. TERMS. (1) The term...

Section 28-2-321 - C.I.F. OR C. & F. — “NET LANDED WEIGHTS” — “PAYMENT ON ARRIVAL” — WARRANTY OF CONDITION ON ARRIVAL. - 28-2-321. C.I.F. OR C. & F. — "NET LANDED WEIGHTS"...

Section 28-2-322 - DELIVERY “EX-SHIP.” - 28-2-322. DELIVERY "EX-SHIP." (1) Unless otherwise agreed a term for...

Section 28-2-323 - FORM OF BILL OF LADING REQUIRED IN OVERSEAS SHIPMENT — “OVERSEAS.” - 28-2-323. FORM OF BILL OF LADING REQUIRED IN OVERSEAS SHIPMENT...

Section 28-2-324 - “NO ARRIVAL, NO SALE” TERM. - 28-2-324. "NO ARRIVAL, NO SALE" TERM. Under a term "no...

Section 28-2-325 - “LETTER OF CREDIT” TERM — “CONFIRMED CREDIT.” - 28-2-325. "LETTER OF CREDIT" TERM — "CONFIRMED CREDIT." (1) Failure...

Section 28-2-326 - SALE ON APPROVAL AND SALE OR RETURN — RIGHTS OF CREDITORS. - 28-2-326. SALE ON APPROVAL AND SALE OR RETURN — RIGHTS...

Section 28-2-327 - SPECIAL INCIDENTS OF SALE ON APPROVAL AND SALE OR RETURN. - 28-2-327. SPECIAL INCIDENTS OF SALE ON APPROVAL AND SALE OR...

Section 28-2-328 - SALE BY AUCTION. - 28-2-328. SALE BY AUCTION. (1) In a sale by auction...

Section 28-2-329 - VOLUNTARY AND UNSOLICITED SENDING OF GOODS. - 28-2-329. VOLUNTARY AND UNSOLICITED SENDING OF GOODS. No person, firm,...

Part 4 - TITLE, CREDITORS AND GOOD FAITH PURCHASERS

Section 28-2-401 - PASSING OF TITLE — RESERVATION FOR SECURITY — LIMITED APPLICATION OF THIS SECTION. - 28-2-401. PASSING OF TITLE — RESERVATION FOR SECURITY — LIMITED...

Section 28-2-402 - RIGHTS OF SELLER’S CREDITORS AGAINST SOLD GOODS. - 28-2-402. RIGHTS OF SELLER’S CREDITORS AGAINST SOLD GOODS. (1) Except...

Section 28-2-403 - POWER TO TRANSFER — GOOD FAITH PURCHASE OF GOODS — “ENTRUSTING.” - 28-2-403. POWER TO TRANSFER — GOOD FAITH PURCHASE OF GOODS...

Part 5 - PERFORMANCE

Section 28-2-501 - INSURABLE INTEREST IN GOODS — MANNER OF IDENTIFICATION OF GOODS. - 28-2-501. INSURABLE INTEREST IN GOODS — MANNER OF IDENTIFICATION OF...

Section 28-2-502 - BUYER’S RIGHT TO GOODS ON SELLER’S REPUDIATION, FAILURE TO DELIVER, OR INSOLVENCY. - 28-2-502. BUYER’S RIGHT TO GOODS ON SELLER’S REPUDIATION, FAILURE TO...

Section 28-2-503 - MANNER OF SELLER’S TENDER OF DELIVERY. - 28-2-503. MANNER OF SELLER’S TENDER OF DELIVERY. (1) Tender of...

Section 28-2-504 - SHIPMENT BY SELLER. - 28-2-504. SHIPMENT BY SELLER. Where the seller is required or...

Section 28-2-505 - SELLER’S SHIPMENT UNDER RESERVATION. - 28-2-505. SELLER’S SHIPMENT UNDER RESERVATION. (1) Where the seller has...

Section 28-2-506 - RIGHTS OF FINANCING AGENCY. - 28-2-506. RIGHTS OF FINANCING AGENCY. (1) A financing agency by...

Section 28-2-507 - EFFECT OF SELLER’S TENDER — DELIVERY ON CONDITION. - 28-2-507. EFFECT OF SELLER’S TENDER — DELIVERY ON CONDITION. (1)...

Section 28-2-508 - CURE BY SELLER OF IMPROPER TENDER OR DELIVERY — REPLACEMENT. - 28-2-508. CURE BY SELLER OF IMPROPER TENDER OR DELIVERY —...

Section 28-2-509 - RISK OF LOSS IN THE ABSENCE OF BREACH. - 28-2-509. RISK OF LOSS IN THE ABSENCE OF BREACH. (1)...

Section 28-2-510 - EFFECT OF BREACH ON RISK OF LOSS. - 28-2-510. EFFECT OF BREACH ON RISK OF LOSS. (1) Where...

Section 28-2-511 - TENDER OF PAYMENT BY BUYER — PAYMENT BY CHECK. - 28-2-511. TENDER OF PAYMENT BY BUYER — PAYMENT BY CHECK....

Section 28-2-512 - PAYMENT BY BUYER BEFORE INSPECTION. - 28-2-512. PAYMENT BY BUYER BEFORE INSPECTION. (1) Where the contract...

Section 28-2-513 - BUYER’S RIGHT TO INSPECTION OF GOODS. - 28-2-513. BUYER’S RIGHT TO INSPECTION OF GOODS. (1) Unless otherwise...

Section 28-2-514 - WHEN DOCUMENTS DELIVERABLE ON ACCEPTANCE — WHEN ON PAYMENT. - 28-2-514. WHEN DOCUMENTS DELIVERABLE ON ACCEPTANCE — WHEN ON PAYMENT....

Section 28-2-515 - PRESERVING EVIDENCE OF GOODS IN DISPUTE. - 28-2-515. PRESERVING EVIDENCE OF GOODS IN DISPUTE. In furtherance of...

Part 6 - BREACH, REPUDIATION AND EXCUSE

Section 28-2-601 - BUYER’S RIGHTS ON IMPROPER DELIVERY. - 28-2-601. BUYER’S RIGHTS ON IMPROPER DELIVERY. Subject to the provisions...

Section 28-2-602 - MANNER AND EFFECT OF RIGHTFUL REJECTION. - 28-2-602. MANNER AND EFFECT OF RIGHTFUL REJECTION. (1) Rejection of...

Section 28-2-603 - MERCHANT BUYER’S DUTIES AS TO RIGHTFULLY REJECTED GOODS. - 28-2-603. MERCHANT BUYER’S DUTIES AS TO RIGHTFULLY REJECTED GOODS. (1)...

Section 28-2-604 - BUYER’S OPTIONS AS TO SALVAGE OF RIGHTFULLY REJECTED GOODS. - 28-2-604. BUYER’S OPTIONS AS TO SALVAGE OF RIGHTFULLY REJECTED GOODS....

Section 28-2-605 - WAIVER OF BUYER’S OBJECTIONS BY FAILURE TO PARTICULARIZE. - 28-2-605. WAIVER OF BUYER’S OBJECTIONS BY FAILURE TO PARTICULARIZE. (1)...

Section 28-2-606 - WHAT CONSTITUTES ACCEPTANCE OF GOODS. - 28-2-606. WHAT CONSTITUTES ACCEPTANCE OF GOODS. (1) Acceptance of goods...

Section 28-2-607 - EFFECT OF ACCEPTANCE — NOTICE OF BREACH — BURDEN OF ESTABLISHING BREACH AFTER ACCEPTANCE — NOTICE OF CLAIM OR LITIGATION TO PERSON ANSWERABLE OVER. - 28-2-607. EFFECT OF ACCEPTANCE — NOTICE OF BREACH — BURDEN...

Section 28-2-608 - REVOCATION OF ACCEPTANCE IN WHOLE OR IN PART. - 28-2-608. REVOCATION OF ACCEPTANCE IN WHOLE OR IN PART. (1)...

Section 28-2-609 - RIGHT TO ADEQUATE ASSURANCE OF PERFORMANCE. - 28-2-609. RIGHT TO ADEQUATE ASSURANCE OF PERFORMANCE. (1) A contract...

Section 28-2-610 - ANTICIPATORY REPUDIATION. - 28-2-610. ANTICIPATORY REPUDIATION. When either party repudiates the contract with...

Section 28-2-611 - RETRACTION OF ANTICIPATORY REPUDIATION. - 28-2-611. RETRACTION OF ANTICIPATORY REPUDIATION. (1) Until the repudiating party’s...

Section 28-2-612 - “INSTALLMENT CONTRACT” — BREACH. - 28-2-612. "INSTALLMENT CONTRACT" — BREACH. (1) An "installment contract" is...

Section 28-2-613 - CASUALTY TO IDENTIFIED GOODS. - 28-2-613. CASUALTY TO IDENTIFIED GOODS. Where the contract requires for...

Section 28-2-614 - SUBSTITUTED PERFORMANCE. - 28-2-614. SUBSTITUTED PERFORMANCE. (1) Where without fault of either party...

Section 28-2-615 - EXCUSE BY FAILURE OF PRESUPPOSED CONDITIONS. - 28-2-615. EXCUSE BY FAILURE OF PRESUPPOSED CONDITIONS. Except so far...

Section 28-2-616 - PROCEDURE ON NOTICE CLAIMING EXCUSE. - 28-2-616. PROCEDURE ON NOTICE CLAIMING EXCUSE. (1) Where the buyer...

Part 7 - REMEDIES

Section 28-2-701 - REMEDIES FOR BREACH OF COLLATERAL CONTRACTS NOT IMPAIRED. - 28-2-701. REMEDIES FOR BREACH OF COLLATERAL CONTRACTS NOT IMPAIRED. Remedies...

Section 28-2-702 - SELLER’S REMEDIES ON DISCOVERY OF BUYER’S INSOLVENCY. - 28-2-702. SELLER’S REMEDIES ON DISCOVERY OF BUYER’S INSOLVENCY. (1) Where...

Section 28-2-703 - SELLER’S REMEDIES IN GENERAL. - 28-2-703. SELLER’S REMEDIES IN GENERAL. Where the buyer wrongfully rejects...

Section 28-2-704 - SELLER’S RIGHT TO IDENTIFY GOODS TO THE CONTRACT NOTWITHSTANDING BREACH OR TO SALVAGE UNFINISHED GOODS. - 28-2-704. SELLER’S RIGHT TO IDENTIFY GOODS TO THE CONTRACT NOTWITHSTANDING...

Section 28-2-705 - SELLER’S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE. - 28-2-705. SELLER’S STOPPAGE OF DELIVERY IN TRANSIT OR OTHERWISE. (1)...

Section 28-2-706 - SELLER’S RESALE INCLUDING CONTRACT FOR RESALE. - 28-2-706. SELLER’S RESALE INCLUDING CONTRACT FOR RESALE. (1) Under the...

Section 28-2-707 - “PERSON IN THE POSITION OF A SELLER.” - 28-2-707. "PERSON IN THE POSITION OF A SELLER." (1) A...

Section 28-2-708 - SELLER’S DAMAGES FOR NONACCEPTANCE OR REPUDIATION. - 28-2-708. SELLER’S DAMAGES FOR NONACCEPTANCE OR REPUDIATION. (1) Subject to...

Section 28-2-709 - ACTION FOR THE PRICE. - 28-2-709. ACTION FOR THE PRICE. (1) When the buyer fails...

Section 28-2-710 - SELLER’S INCIDENTAL DAMAGES. - 28-2-710. SELLER’S INCIDENTAL DAMAGES. Incidental damages to an aggrieved seller...

Section 28-2-711 - BUYER’S REMEDIES IN GENERAL — BUYER’S SECURITY INTEREST IN REJECTED GOODS. - 28-2-711. BUYER’S REMEDIES IN GENERAL — BUYER’S SECURITY INTEREST IN...

Section 28-2-712 - “COVER” — BUYER’S PROCUREMENT OF SUBSTITUTE GOODS. - 28-2-712. "COVER" — BUYER’S PROCUREMENT OF SUBSTITUTE GOODS. (1) After...

Section 28-2-713 - BUYER’S DAMAGES FOR NONDELIVERY OR REPUDIATION. - 28-2-713. BUYER’S DAMAGES FOR NONDELIVERY OR REPUDIATION. (1) Subject to...

Section 28-2-714 - BUYER’S DAMAGES FOR BREACH IN REGARD TO ACCEPTED GOODS. - 28-2-714. BUYER’S DAMAGES FOR BREACH IN REGARD TO ACCEPTED GOODS....

Section 28-2-715 - BUYER’S INCIDENTAL AND CONSEQUENTIAL DAMAGES. - 28-2-715. BUYER’S INCIDENTAL AND CONSEQUENTIAL DAMAGES. (1) Incidental damages resulting...

Section 28-2-716 - BUYER’S RIGHT TO SPECIFIC PERFORMANCE OR CLAIM AND DELIVERY. - 28-2-716. BUYER’S RIGHT TO SPECIFIC PERFORMANCE OR CLAIM AND DELIVERY....

Section 28-2-717 - DEDUCTION OF DAMAGES FROM THE PRICE. - 28-2-717. DEDUCTION OF DAMAGES FROM THE PRICE. The buyer on...

Section 28-2-718 - LIQUIDATION OR LIMITATION OF DAMAGES — DEPOSITS. - 28-2-718. LIQUIDATION OR LIMITATION OF DAMAGES — DEPOSITS. (1) Damages...

Section 28-2-719 - CONTRACTUAL MODIFICATION OR LIMITATION OF REMEDY. - 28-2-719. CONTRACTUAL MODIFICATION OR LIMITATION OF REMEDY. (1) Subject to...

Section 28-2-720 - EFFECT OF “CANCELLATION” OR “RESCISSION” ON CLAIMS FOR ANTECEDENT BREACH. - 28-2-720. EFFECT OF "CANCELLATION" OR "RESCISSION" ON CLAIMS FOR ANTECEDENT...

Section 28-2-721 - REMEDIES FOR FRAUD. - 28-2-721. REMEDIES FOR FRAUD. Remedies for material misrepresentation or fraud...

Section 28-2-722 - WHO CAN SUE THIRD PARTIES FOR INJURY TO GOODS. - 28-2-722. WHO CAN SUE THIRD PARTIES FOR INJURY TO GOODS....

Section 28-2-723 - PROOF OF MARKET PRICE — TIME AND PLACE. - 28-2-723. PROOF OF MARKET PRICE — TIME AND PLACE. (1)...

Section 28-2-724 - ADMISSIBILITY OF MARKET QUOTATIONS. - 28-2-724. ADMISSIBILITY OF MARKET QUOTATIONS. Whenever the prevailing price or...

Section 28-2-725 - STATUTE OF LIMITATIONS IN CONTRACTS FOR SALE. - 28-2-725. STATUTE OF LIMITATIONS IN CONTRACTS FOR SALE. (1) An...

Chapter 3 - UNIFORM COMMERCIAL CODE — NEGOTIABLE INSTRUMENTS

Part 1 - GENERAL PROVISIONS AND DEFINITIONS

Section 28-3-101 - SHORT TITLE. - 28-3-101. SHORT TITLE. This chapter may be cited as "Uniform...

Section 28-3-102 - SUBJECT MATTER. - 28-3-102. SUBJECT MATTER. (1) This chapter applies to negotiable instruments....

Section 28-3-103 - DEFINITIONS. - 28-3-103. DEFINITIONS. (1) In this chapter: (a) "Acceptor" means a...

Section 28-3-104 - NEGOTIABLE INSTRUMENT. - 28-3-104. NEGOTIABLE INSTRUMENT. (1) Except as provided in subsections (3)...

Section 28-3-105 - ISSUE OF INSTRUMENT. - 28-3-105. ISSUE OF INSTRUMENT. (1) "Issue" means the first delivery...

Section 28-3-106 - UNCONDITIONAL PROMISE OR ORDER. - 28-3-106. UNCONDITIONAL PROMISE OR ORDER. (1) Except as provided in...

Section 28-3-107 - INSTRUMENT PAYABLE IN FOREIGN MONEY. - 28-3-107. INSTRUMENT PAYABLE IN FOREIGN MONEY. Unless the instrument otherwise...

Section 28-3-108 - PAYABLE ON DEMAND OR AT DEFINITE TIME. - 28-3-108. PAYABLE ON DEMAND OR AT DEFINITE TIME. (1) A...

Section 28-3-109 - PAYABLE TO BEARER OR TO ORDER. - 28-3-109. PAYABLE TO BEARER OR TO ORDER. (1) A promise...

Section 28-3-110 - IDENTIFICATION OF PERSON TO WHOM INSTRUMENT IS PAYABLE. - 28-3-110. IDENTIFICATION OF PERSON TO WHOM INSTRUMENT IS PAYABLE. (1)...

Section 28-3-111 - PLACE OF PAYMENT. - 28-3-111. PLACE OF PAYMENT. Except as otherwise provided for items...

Section 28-3-112 - INTEREST. - 28-3-112. INTEREST. (1) Unless otherwise provided in the instrument, (i)...

Section 28-3-113 - DATE OF INSTRUMENT. - 28-3-113. DATE OF INSTRUMENT. (1) An instrument may be antedated...

Section 28-3-114 - CONTRADICTORY TERMS OF INSTRUMENT. - 28-3-114. CONTRADICTORY TERMS OF INSTRUMENT. If an instrument contains contradictory...

Section 28-3-115 - INCOMPLETE INSTRUMENT. - 28-3-115. INCOMPLETE INSTRUMENT. (1) "Incomplete instrument" means a signed writing,...

Section 28-3-116 - JOINT AND SEVERAL LIABILITY — CONTRIBUTION. - 28-3-116. JOINT AND SEVERAL LIABILITY — CONTRIBUTION. (1) Except as...

Section 28-3-117 - OTHER AGREEMENTS AFFECTING INSTRUMENT. - 28-3-117. OTHER AGREEMENTS AFFECTING INSTRUMENT. Subject to applicable law regarding...

Section 28-3-118 - STATUTE OF LIMITATIONS. - 28-3-118. STATUTE OF LIMITATIONS. (1) Except as provided in subsection...

Section 28-3-119 - NOTICE OF RIGHT TO DEFEND ACTION. - 28-3-119. NOTICE OF RIGHT TO DEFEND ACTION. In an action...

Part 2 - NEGOTIATION, TRANSFER, AND INDORSEMENT

Section 28-3-201 - NEGOTIATION. - 28-3-201. NEGOTIATION. (1) "Negotiation" means a transfer of possession, whether...

Section 28-3-202 - NEGOTIATION SUBJECT TO RESCISSION. - 28-3-202. NEGOTIATION SUBJECT TO RESCISSION. (1) Negotiation is effective even...

Section 28-3-203 - TRANSFER OF INSTRUMENT — RIGHTS ACQUIRED BY TRANSFER. - 28-3-203. TRANSFER OF INSTRUMENT — RIGHTS ACQUIRED BY TRANSFER. (1)...

Section 28-3-204 - INDORSEMENT. - 28-3-204. INDORSEMENT. (1) "Indorsement" means a signature, other than that...

Section 28-3-205 - SPECIAL INDORSEMENT — BLANK INDORSEMENT — ANOMALOUS INDORSEMENT. - 28-3-205. SPECIAL INDORSEMENT — BLANK INDORSEMENT — ANOMALOUS INDORSEMENT. (1)...

Section 28-3-206 - RESTRICTIVE INDORSEMENT. - 28-3-206. RESTRICTIVE INDORSEMENT. (1) An indorsement limiting payment to a...

Section 28-3-207 - REACQUISITION. - 28-3-207. REACQUISITION. Reacquisition of an instrument occurs if it is...

Part 3 - ENFORCEMENT OF INSTRUMENTS

Section 28-3-301 - PERSON ENTITLED TO ENFORCE INSTRUMENT. - 28-3-301. PERSON ENTITLED TO ENFORCE INSTRUMENT. "Person entitled to enforce"...

Section 28-3-302 - HOLDER IN DUE COURSE. - 28-3-302. HOLDER IN DUE COURSE. (1) Subject to subsection (3)...

Section 28-3-303 - VALUE AND CONSIDERATION. - 28-3-303. VALUE AND CONSIDERATION. (1) An instrument is issued or...

Section 28-3-304 - OVERDUE INSTRUMENT. - 28-3-304. OVERDUE INSTRUMENT. (1) An instrument payable on demand becomes...

Section 28-3-305 - DEFENSES AND CLAIMS IN RECOUPMENT. - 28-3-305. DEFENSES AND CLAIMS IN RECOUPMENT. (1) Except as stated...

Section 28-3-306 - CLAIMS TO AN INSTRUMENT. - 28-3-306. CLAIMS TO AN INSTRUMENT. A person taking an instrument,...

Section 28-3-307 - PROOF OF SIGNATURES AND STATUS AS HOLDER IN DUE COURSE. - 28-3-307. PROOF OF SIGNATURES AND STATUS AS HOLDER IN DUE...

Section 28-3-308 - ENFORCEMENT OF LOST, DESTROYED, OR STOLEN INSTRUMENT. - 28-3-308. ENFORCEMENT OF LOST, DESTROYED, OR STOLEN INSTRUMENT. (1) A...

Section 28-3-309 - EFFECT OF INSTRUMENT ON OBLIGATION FOR WHICH TAKEN. - 28-3-309. EFFECT OF INSTRUMENT ON OBLIGATION FOR WHICH TAKEN. (1)...

Section 28-3-310 - ACCORD AND SATISFACTION BY USE OF INSTRUMENT. - 28-3-310. ACCORD AND SATISFACTION BY USE OF INSTRUMENT. (1) If...

Section 28-3-311 - LOST, DESTROYED, OR STOLEN CASHIER’S CHECK, TELLER’S CHECK OR CERTIFIED CHECK. - 28-3-311. LOST, DESTROYED, OR STOLEN CASHIER’S CHECK, TELLER’S CHECK OR...

Part 4 - LIABILITY OF PARTIES

Section 28-3-401 - SIGNATURE. - 28-3-401. SIGNATURE. (1) A person is not liable on an...

Section 28-3-402 - SIGNATURE BY REPRESENTATIVE. - 28-3-402. SIGNATURE BY REPRESENTATIVE. (1) If a person acting, or...

Section 28-3-403 - UNAUTHORIZED SIGNATURE. - 28-3-403. UNAUTHORIZED SIGNATURE. (1) Unless otherwise provided in this chapter...

Section 28-3-404 - IMPOSTORS — FICTITIOUS PAYEES. - 28-3-404. IMPOSTORS — FICTITIOUS PAYEES. (1) If an impostor, by...

Section 28-3-405 - EMPLOYER’S RESPONSIBILITY FOR FRAUDULENT INDORSEMENT BY EMPLOYEE. - 28-3-405. EMPLOYER’S RESPONSIBILITY FOR FRAUDULENT INDORSEMENT BY EMPLOYEE. (1) In...

Section 28-3-406 - NEGLIGENCE CONTRIBUTING TO FORGED SIGNATURE OR ALTERATION OF INSTRUMENT. - 28-3-406. NEGLIGENCE CONTRIBUTING TO FORGED SIGNATURE OR ALTERATION OF INSTRUMENT....

Section 28-3-407 - ALTERATION. - 28-3-407. ALTERATION. (1) "Alteration" means (i) an unauthorized change in...

Section 28-3-408 - DRAWEE NOT LIABLE ON UNACCEPTED DRAFT. - 28-3-408. DRAWEE NOT LIABLE ON UNACCEPTED DRAFT. A check or...

Section 28-3-409 - ACCEPTANCE OF DRAFT — CERTIFIED CHECK. - 28-3-409. ACCEPTANCE OF DRAFT — CERTIFIED CHECK. (1) "Acceptance" means...

Section 28-3-410 - ACCEPTANCE VARYING DRAFT. - 28-3-410. ACCEPTANCE VARYING DRAFT. (1) If the terms of a...

Section 28-3-411 - REFUSAL TO PAY CASHIER’S CHECKS, TELLER’S CHECKS, AND CERTIFIED CHECKS. - 28-3-411. REFUSAL TO PAY CASHIER’S CHECKS, TELLER’S CHECKS, AND CERTIFIED...

Section 28-3-412 - OBLIGATION OF ISSUER OF NOTE OR CASHIER’S CHECK. - 28-3-412. OBLIGATION OF ISSUER OF NOTE OR CASHIER’S CHECK. The...

Section 28-3-413 - OBLIGATION OF ACCEPTOR. - 28-3-413. OBLIGATION OF ACCEPTOR. (1) The acceptor of a draft...

Section 28-3-414 - OBLIGATION OF DRAWER. - 28-3-414. OBLIGATION OF DRAWER. (1) This section does not apply...

Section 28-3-415 - OBLIGATION OF INDORSER. - 28-3-415. OBLIGATION OF INDORSER. (1) Subject to subsections (2), (3)...

Section 28-3-416 - TRANSFER WARRANTIES. - 28-3-416. TRANSFER WARRANTIES. (1) A person who transfers an instrument...

Section 28-3-417 - PRESENTMENT WARRANTIES. - 28-3-417. PRESENTMENT WARRANTIES. (1) If an unaccepted draft is presented...

Section 28-3-418 - PAYMENT OR ACCEPTANCE BY MISTAKE. - 28-3-418. PAYMENT OR ACCEPTANCE BY MISTAKE. (1) Except as provided...

Section 28-3-419 - INSTRUMENTS SIGNED FOR ACCOMMODATION. - 28-3-419. INSTRUMENTS SIGNED FOR ACCOMMODATION. (1) If an instrument is...

Section 28-3-420 - CONVERSION OF INSTRUMENT. - 28-3-420. CONVERSION OF INSTRUMENT. (1) The law applicable to conversion...

Part 5 - PRESENTMENT, NOTICE OF DISHONOR AND PROTEST

Section 28-3-501 - PRESENTMENT. - 28-3-501. PRESENTMENT. (1) "Presentment" means a demand made by or...

Section 28-3-502 - DISHONOR. - 28-3-502. DISHONOR. (1) Dishonor of a note is governed by...

Section 28-3-503 - NOTICE OF DISHONOR. - 28-3-503. NOTICE OF DISHONOR. (1) The obligation of an indorser...

Section 28-3-504 - EXCUSED PRESENTMENT AND NOTICE OF DISHONOR. - 28-3-504. EXCUSED PRESENTMENT AND NOTICE OF DISHONOR. (1) Presentment for...

Section 28-3-505 - EVIDENCE OF DISHONOR. - 28-3-505. EVIDENCE OF DISHONOR. (1) The following are admissible as...

Part 6 - DISCHARGE AND PAYMENT

Section 28-3-601 - DISCHARGE AND EFFECT OF DISCHARGE. - 28-3-601. DISCHARGE AND EFFECT OF DISCHARGE. (1) The obligation of...

Section 28-3-602 - PAYMENT. - 28-3-602. PAYMENT. (1) Subject to subsection (2) of this section,...

Section 28-3-603 - TENDER OF PAYMENT. - 28-3-603. TENDER OF PAYMENT. (1) If tender of payment of...

Section 28-3-604 - DISCHARGE BY CANCELLATION OR RENUNCIATION. - 28-3-604. DISCHARGE BY CANCELLATION OR RENUNCIATION. (1) A person entitled...

Section 28-3-605 - DISCHARGE OF INDORSERS AND ACCOMMODATION PARTIES. - 28-3-605. DISCHARGE OF INDORSERS AND ACCOMMODATION PARTIES. (1) In this...

Chapter 4 - UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS

Part 1 - GENERAL PROVISIONS AND DEFINITIONS

Section 28-4-101 - SHORT TITLE. - 28-4-101. SHORT TITLE. This chapter may be cited as Uniform...

Section 28-4-102 - APPLICABILITY. - 28-4-102. APPLICABILITY. (1) To the extent that items within this...

Section 28-4-103 - VARIATION BY AGREEMENT — MEASURE OF DAMAGES — CERTAIN ACTION CONSTITUTING ORDINARY CARE. - 28-4-103. VARIATION BY AGREEMENT — MEASURE OF DAMAGES — CERTAIN...

Section 28-4-104 - DEFINITIONS AND INDEX OF DEFINITIONS. - 28-4-104. DEFINITIONS AND INDEX OF DEFINITIONS. (1) In this chapter,...

Section 28-4-105 - “BANK” — “DEPOSITARY BANK” — “INTERMEDIARY BANK” — “COLLECTING BANK” — “PAYOR BANK” — “PRESENTING BANK.” - 28-4-105. "BANK" — "DEPOSITARY BANK" — "INTERMEDIARY BANK" — "COLLECTING...

Section 28-4-106 - PAYABLE THROUGH OR PAYABLE AT BANK — COLLECTING BANK. - 28-4-106. PAYABLE THROUGH OR PAYABLE AT BANK — COLLECTING BANK....

Section 28-4-107 - SEPARATE OFFICE OF A BANK. - 28-4-107. SEPARATE OFFICE OF A BANK. A branch or separate...

Section 28-4-108 - TIME OF RECEIPT OF ITEMS. - 28-4-108. TIME OF RECEIPT OF ITEMS. (1) For the purpose...

Section 28-4-109 - DELAYS. - 28-4-109. DELAYS. (1) Unless otherwise instructed, a collecting bank in...

Section 28-4-110 - ELECTRONIC PRESENTMENT. - 28-4-110. ELECTRONIC PRESENTMENT. (1) "Agreement for electronic presentment" means an...

Section 28-4-111 - STATUTE OF LIMITATIONS. - 28-4-111. STATUTE OF LIMITATIONS. An action to enforce an obligation,...

Part 2 - COLLECTION OF ITEMS — DEPOSITARY AND COLLECTING BANKS

Section 28-4-201 - STATUS OF COLLECTING BANK AS AGENT AND PROVISIONAL STATUS OF CREDITS — APPLICABILITY OF CHAPTER — ITEM INDORSED “PAY ANY BANK.” - 28-4-201. STATUS OF COLLECTING BANK AS AGENT AND PROVISIONAL STATUS...

Section 28-4-202 - RESPONSIBILITY FOR COLLECTION OR RETURN — WHEN ACTION TIMELY. - 28-4-202. RESPONSIBILITY FOR COLLECTION OR RETURN — WHEN ACTION TIMELY....

Section 28-4-203 - EFFECT OF INSTRUCTIONS. - 28-4-203. EFFECT OF INSTRUCTIONS. Subject to the provisions of chapter...

Section 28-4-204 - METHODS OF SENDING AND PRESENTING — SENDING DIRECTLY TO PAYOR BANK. - 28-4-204. METHODS OF SENDING AND PRESENTING — SENDING DIRECTLY TO...

Section 28-4-205 - DEPOSITARY BANK HOLDER OF UNINDORSED ITEM. - 28-4-205. DEPOSITARY BANK HOLDER OF UNINDORSED ITEM. If a customer...

Section 28-4-206 - TRANSFER BETWEEN BANKS. - 28-4-206. TRANSFER BETWEEN BANKS. Any agreed method that identifies the...

Section 28-4-207 - TRANSFER WARRANTIES. - 28-4-207. TRANSFER WARRANTIES. (1) A customer or collecting bank that...

Section 28-4-208 - PRESENTMENT WARRANTIES. - 28-4-208. PRESENTMENT WARRANTIES. (1) If an unaccepted draft is presented...

Section 28-4-209 - ENCODING AND RETENTION WARRANTIES. - 28-4-209. ENCODING AND RETENTION WARRANTIES. (1) A person who encodes...

Section 28-4-210 - SECURITY INTEREST OF COLLECTING BANK IN ITEMS, ACCOMPANYING DOCUMENTS AND PROCEEDS. - 28-4-210. SECURITY INTEREST OF COLLECTING BANK IN ITEMS, ACCOMPANYING DOCUMENTS...

Section 28-4-211 - WHEN BANK GIVES VALUE FOR PURPOSES OF HOLDER IN DUE COURSE. - 28-4-211. WHEN BANK GIVES VALUE FOR PURPOSES OF HOLDER IN...

Section 28-4-212 - PRESENTMENT BY NOTICE OF ITEM NOT PAYABLE BY, THROUGH OR AT A BANK — LIABILITY OF DRAWER OR INDORSER. - 28-4-212. PRESENTMENT BY NOTICE OF ITEM NOT PAYABLE BY, THROUGH...

Section 28-4-213 - MEDIUM AND TIME OF SETTLEMENT BY BANK. - 28-4-213. MEDIUM AND TIME OF SETTLEMENT BY BANK. (1) With...

Section 28-4-214 - RIGHT OF CHARGE-BACK OR REFUND — LIABILITY OF COLLECTING BANK — RETURN OF ITEM. - 28-4-214. RIGHT OF CHARGE-BACK OR REFUND — LIABILITY OF COLLECTING...

Section 28-4-215 - FINAL PAYMENT OF ITEM BY PAYOR BANK — WHEN PROVISIONAL DEBITS AND CREDITS BECOME FINAL — WHEN CERTAIN CREDITS BECOME AVAILABLE FOR WITHDRAWAL. - 28-4-215. FINAL PAYMENT OF ITEM BY PAYOR BANK — WHEN...

Section 28-4-216 - INSOLVENCY AND PREFERENCE. - 28-4-216. INSOLVENCY AND PREFERENCE. (1) If an item is in...

Part 3 - COLLECTION OF ITEMS — PAYOR BANKS

Section 28-4-301 - DEFERRED POSTING — RECOVERY OF PAYMENT BY RETURN OF ITEMS — TIME OF DISHONOR — RETURN OF ITEMS BY PAYOR BANK. - 28-4-301. DEFERRED POSTING — RECOVERY OF PAYMENT BY RETURN OF...

Section 28-4-302 - PAYOR BANK’S RESPONSIBILITY FOR LATE RETURN OF ITEM. - 28-4-302. PAYOR BANK’S RESPONSIBILITY FOR LATE RETURN OF ITEM. (1)...

Section 28-4-303 - WHEN ITEMS SUBJECT TO NOTICE, STOP-PAYMENT ORDER, LEGAL PROCESS OR SETOFF — ORDER IN WHICH ITEMS MAY BE CHARGED OR CERTIFIED. - 28-4-303. WHEN ITEMS SUBJECT TO NOTICE, STOP-PAYMENT ORDER, LEGAL PROCESS...

Part 4 - RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

Section 28-4-401 - WHEN BANK MAY CHARGE CUSTOMER’S ACCOUNT. - 28-4-401. WHEN BANK MAY CHARGE CUSTOMER’S ACCOUNT. (1) A bank...

Section 28-4-402 - BANK’S LIABILITY TO CUSTOMER FOR WRONGFUL DISHONOR — TIME OF DETERMINING INSUFFICIENCY OF ACCOUNT. - 28-4-402. BANK’S LIABILITY TO CUSTOMER FOR WRONGFUL DISHONOR — TIME...

Section 28-4-403 - CUSTOMER’S RIGHT TO STOP PAYMENT — BURDEN OF PROOF OF LOSS. - 28-4-403. CUSTOMER’S RIGHT TO STOP PAYMENT — BURDEN OF PROOF...

Section 28-4-404 - BANK NOT OBLIGATED TO PAY CHECK MORE THAN SIX MONTHS OLD. - 28-4-404. BANK NOT OBLIGATED TO PAY CHECK MORE THAN SIX...

Section 28-4-404A - BANK SHALL PROVIDE NOTICE OF USE OF PHOTOCOPY CHECK. - 28-4-404A. BANK SHALL PROVIDE NOTICE OF USE OF PHOTOCOPY CHECK....

Section 28-4-404B - STATUTORY FORM FOR NOTICE OF PROCESSING PHOTOCOPIED CHECK. - 28-4-404B. STATUTORY FORM FOR NOTICE OF PROCESSING PHOTOCOPIED CHECK. The...

Section 28-4-404C - WHEN NOTICE NOT REQUIRED. - 28-4-404C. WHEN NOTICE NOT REQUIRED. The notice required by section...

Section 28-4-405 - DEATH OR INCOMPETENCE OF CUSTOMER. - 28-4-405. DEATH OR INCOMPETENCE OF CUSTOMER. (1) A payor or...

Section 28-4-406 - CUSTOMER’S DUTY TO DISCOVER AND REPORT UNAUTHORIZED SIGNATURE OR ALTERATION. - 28-4-406. CUSTOMER’S DUTY TO DISCOVER AND REPORT UNAUTHORIZED SIGNATURE OR...

Section 28-4-407 - PAYOR BANK’S RIGHT TO SUBROGATION ON IMPROPER PAYMENT. - 28-4-407. PAYOR BANK’S RIGHT TO SUBROGATION ON IMPROPER PAYMENT. If...

Part 5 - COLLECTION OF DOCUMENTARY DRAFTS

Section 28-4-501 - HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR. - 28-4-501. HANDLING OF DOCUMENTARY DRAFTS — DUTY TO SEND FOR...

Section 28-4-502 - PRESENTMENT OF “ON ARRIVAL” DRAFTS. - 28-4-502. PRESENTMENT OF "ON ARRIVAL" DRAFTS. If a draft or...

Section 28-4-503 - RESPONSIBILITY OF PRESENTING BANK FOR DOCUMENTS AND GOODS — REPORT OF REASONS FOR DISHONOR — REFEREE IN CASE OF NEED. - 28-4-503. RESPONSIBILITY OF PRESENTING BANK FOR DOCUMENTS AND GOODS —...

Section 28-4-504 - PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS — SECURITY INTEREST FOR EXPENSES. - 28-4-504. PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS —...

Part 6 - FUNDS TRANSFERS

Section 28-4-601 - SHORT TITLE. - 28-4-601. SHORT TITLE. This part may be cited as "Uniform...

Section 28-4-602 - SUBJECT MATTER. - 28-4-602. SUBJECT MATTER. Except as otherwise provided in section 28-4-608,...

Section 28-4-603 - PAYMENT ORDER — DEFINITIONS. - 28-4-603. PAYMENT ORDER — DEFINITIONS. (1) In this part: (a)...

Section 28-4-604 - FUNDS TRANSFER — DEFINITIONS. - 28-4-604. FUNDS TRANSFER — DEFINITIONS. In this part: (1) "Funds...

Section 28-4-605 - OTHER DEFINITIONS. - 28-4-605. OTHER DEFINITIONS. (1) In this part: (a) "Authorized account"...

Section 28-4-606 - TIME PAYMENT ORDER IS RECEIVED. - 28-4-606. TIME PAYMENT ORDER IS RECEIVED. (1) The time of...

Section 28-4-607 - FEDERAL RESERVE REGULATIONS AND OPERATING CIRCULARS. - 28-4-607. FEDERAL RESERVE REGULATIONS AND OPERATING CIRCULARS. Regulations of the...

Section 28-4-608 - RELATIONSHIP TO ELECTRONIC FUND TRANSFER ACT. - 28-4-608. RELATIONSHIP TO ELECTRONIC FUND TRANSFER ACT. (1) Except as...

Section 28-4-609 - SECURITY PROCEDURE. - 28-4-609. SECURITY PROCEDURE. "Security procedure" means a procedure established by...

Section 28-4-610 - AUTHORIZED AND VERIFIED PAYMENT ORDERS. - 28-4-610. AUTHORIZED AND VERIFIED PAYMENT ORDERS. (1) A payment order...

Section 28-4-611 - UNENFORCEABILITY OF CERTAIN VERIFIED PAYMENT ORDERS. - 28-4-611. UNENFORCEABILITY OF CERTAIN VERIFIED PAYMENT ORDERS. (1) If an...

Section 28-4-612 - REFUND OF PAYMENT AND DUTY OF CUSTOMER TO REPORT WITH RESPECT TO UNAUTHORIZED PAYMENT ORDER. - 28-4-612. REFUND OF PAYMENT AND DUTY OF CUSTOMER TO REPORT...

Section 28-4-613 - ERRONEOUS PAYMENT ORDERS. - 28-4-613. ERRONEOUS PAYMENT ORDERS. (1) If an accepted payment order...

Section 28-4-614 - TRANSMISSION OF PAYMENT ORDER THROUGH FUNDS — TRANSFER OR OTHER COMMUNICATION SYSTEM. - 28-4-614. TRANSMISSION OF PAYMENT ORDER THROUGH FUNDS — TRANSFER OR...

Section 28-4-615 - MISDESCRIPTION OF BENEFICIARY. - 28-4-615. MISDESCRIPTION OF BENEFICIARY. (1) Subject to subsection (2) of...

Section 28-4-616 - MISDESCRIPTION OF INTERMEDIARY BANK OR BENEFICIARY’S BANK. - 28-4-616. MISDESCRIPTION OF INTERMEDIARY BANK OR BENEFICIARY’S BANK. (1) This...

Section 28-4-617 - ACCEPTANCE OF PAYMENT ORDER. - 28-4-617. ACCEPTANCE OF PAYMENT ORDER. (1) Subject to subsection (4)...

Section 28-4-618 - REJECTION OF PAYMENT ORDER. - 28-4-618. REJECTION OF PAYMENT ORDER. (1) A payment order is...

Section 28-4-619 - CANCELLATION AND AMENDMENT OF PAYMENT ORDER. - 28-4-619. CANCELLATION AND AMENDMENT OF PAYMENT ORDER. (1) A communication...

Section 28-4-620 - LIABILITY AND DUTY OF RECEIVING BANK REGARDING UNACCEPTED PAYMENT ORDER. - 28-4-620. LIABILITY AND DUTY OF RECEIVING BANK REGARDING UNACCEPTED PAYMENT...

Section 28-4-621 - EXECUTION AND EXECUTION DATE. - 28-4-621. EXECUTION AND EXECUTION DATE. (1) A payment order is...

Section 28-4-622 - OBLIGATIONS OF RECEIVING BANK IN EXECUTION OF PAYMENT ORDER. - 28-4-622. OBLIGATIONS OF RECEIVING BANK IN EXECUTION OF PAYMENT ORDER....

Section 28-4-623 - ERRONEOUS EXECUTION OF PAYMENT ORDER. - 28-4-623. ERRONEOUS EXECUTION OF PAYMENT ORDER. (1) A receiving bank...

Section 28-4-624 - DUTY OF SENDER TO REPORT ERRONEOUSLY EXECUTED PAYMENT ORDER. - 28-4-624. DUTY OF SENDER TO REPORT ERRONEOUSLY EXECUTED PAYMENT ORDER....

Section 28-4-625 - LIABILITY FOR LATE OR IMPROPER EXECUTION OR FAILURE TO EXECUTE PAYMENT ORDER. - 28-4-625. LIABILITY FOR LATE OR IMPROPER EXECUTION OR FAILURE TO...

Section 28-4-626 - PAYMENT DATE. - 28-4-626. PAYMENT DATE. "Payment date" of a payment order means...

Section 28-4-627 - OBLIGATION OF SENDER TO PAY RECEIVING BANK. - 28-4-627. OBLIGATION OF SENDER TO PAY RECEIVING BANK. (1) The...

Section 28-4-628 - PAYMENT BY SENDER TO RECEIVING BANK. - 28-4-628. PAYMENT BY SENDER TO RECEIVING BANK. (1) Payment of...

Section 28-4-629 - OBLIGATION OF BENEFICIARY’S BANK TO PAY AND GIVE NOTICE TO BENEFICIARY. - 28-4-629. OBLIGATION OF BENEFICIARY’S BANK TO PAY AND GIVE NOTICE...

Section 28-4-630 - PAYMENT BY BENEFICIARY’S BANK TO BENEFICIARY. - 28-4-630. PAYMENT BY BENEFICIARY’S BANK TO BENEFICIARY. (1) If the...

Section 28-4-631 - PAYMENT BY ORIGINATOR TO BENEFICIARY — DISCHARGE OF UNDERLYING OBLIGATION. - 28-4-631. PAYMENT BY ORIGINATOR TO BENEFICIARY — DISCHARGE OF UNDERLYING...

Section 28-4-632 - VARIATION BY AGREEMENT AND EFFECT OF FUNDS-TRANSFER SYSTEM RULE. - 28-4-632. VARIATION BY AGREEMENT AND EFFECT OF FUNDS-TRANSFER SYSTEM RULE....

Section 28-4-633 - CREDITOR PROCESS SERVED ON RECEIVING BANK — SETOFF BY BENEFICIARY’S BANK. - 28-4-633. CREDITOR PROCESS SERVED ON RECEIVING BANK — SETOFF BY...

Section 28-4-634 - INJUNCTION OR RESTRAINING ORDER WITH RESPECT TO FUNDS TRANSFER. - 28-4-634. INJUNCTION OR RESTRAINING ORDER WITH RESPECT TO FUNDS TRANSFER....

Section 28-4-635 - ORDER IN WHICH ITEMS AND PAYMENT ORDERS MAY BE CHARGED TO ACCOUNT — ORDER OF WITHDRAWALS FROM ACCOUNT. - 28-4-635. ORDER IN WHICH ITEMS AND PAYMENT ORDERS MAY BE...

Section 28-4-636 - PRECLUSION OF OBJECTION TO DEBIT OF CUSTOMER’S ACCOUNT. - 28-4-636. PRECLUSION OF OBJECTION TO DEBIT OF CUSTOMER’S ACCOUNT. If...

Section 28-4-637 - RATE OF INTEREST. - 28-4-637. RATE OF INTEREST. (1) If, under this part, a...

Section 28-4-638 - CHOICE OF LAW. - 28-4-638. CHOICE OF LAW. (1) The following rules apply unless...

Chapter 5 - UNIFORM COMMERCIAL CODE — LETTERS OF CREDIT

Section 28-5-101 - SHORT TITLE. - 28-5-101. SHORT TITLE. This chapter may be cited as "Uniform...

Section 28-5-102 - DEFINITIONS. - 28-5-102. DEFINITIONS. (1) In this chapter: (a) "Adviser" means a...

Section 28-5-103 - SCOPE. - 28-5-103. SCOPE. (1) This chapter applies to letters of credit...

Section 28-5-104 - FORMAL REQUIREMENTS. - 28-5-104. FORMAL REQUIREMENTS. A letter of credit, confirmation, advice, transfer,...

Section 28-5-105 - CONSIDERATION. - 28-5-105. CONSIDERATION. Consideration is not required to issue, amend, transfer,...

Section 28-5-106 - ISSUANCE, AMENDMENT, CANCELLATION, AND DURATION. - 28-5-106. ISSUANCE, AMENDMENT, CANCELLATION, AND DURATION. (1) A letter of...

Section 28-5-107 - CONFIRMER, NOMINATED PERSON, AND ADVISER. - 28-5-107. CONFIRMER, NOMINATED PERSON, AND ADVISER. (1) A confirmer is...

Section 28-5-108 - ISSUER’S RIGHTS AND OBLIGATIONS. - 28-5-108. ISSUER’S RIGHTS AND OBLIGATIONS. (1) Except as otherwise provided...

Section 28-5-109 - FRAUD AND FORGERY. - 28-5-109. FRAUD AND FORGERY. (1) If a presentation is made...

Section 28-5-110 - WARRANTIES. - 28-5-110. WARRANTIES. (1) If its presentation is honored, the beneficiary...

Section 28-5-111 - REMEDIES. - 28-5-111. REMEDIES. (1) If an issuer wrongfully dishonors or repudiates...

Section 28-5-112 - TRANSFER OF LETTER OF CREDIT. - 28-5-112. TRANSFER OF LETTER OF CREDIT. (1) Except as otherwise...

Section 28-5-113 - TRANSFER BY OPERATION OF LAW. - 28-5-113. TRANSFER BY OPERATION OF LAW. (1) A successor of...

Section 28-5-114 - ASSIGNMENT OF PROCEEDS. - 28-5-114. ASSIGNMENT OF PROCEEDS. (1) In this section, "proceeds of...

Section 28-5-115 - STATUTE OF LIMITATIONS. - 28-5-115. STATUTE OF LIMITATIONS. An action to enforce a right...

Section 28-5-116 - CHOICE OF LAW AND FORUM. - 28-5-116. CHOICE OF LAW AND FORUM. (1) The liability of...

Section 28-5-117 - SUBROGATION OF ISSUER, APPLICANT, AND NOMINATED PERSON. - 28-5-117. SUBROGATION OF ISSUER, APPLICANT, AND NOMINATED PERSON. (1) An...

Section 28-5-118 - APPLICABILITY. - 28-5-118. APPLICABILITY. This act applies to a letter of credit...

Section 28-5-119 - SAVINGS CLAUSE. - 28-5-119. SAVINGS CLAUSE. A transaction arising out of or associated...

Section 28-5-120 - SECURITY INTEREST OF ISSUER OR NOMINATED PERSON. - 28-5-120. SECURITY INTEREST OF ISSUER OR NOMINATED PERSON. (a) An...

Chapter 7 - DOCUMENTS OF TITLE

Part 1 - GENERAL

Section 28-7-101 - SHORT TITLE. - 28-7-101. SHORT TITLE. This chapter shall be known and may...

Section 28-7-102 - DEFINITIONS AND INDEX OF DEFINITIONS. - 28-7-102. DEFINITIONS AND INDEX OF DEFINITIONS. (a) In this chapter,...

Section 28-7-103 - RELATION OF CHAPTER TO TREATY OR STATUTE. - 28-7-103. RELATION OF CHAPTER TO TREATY OR STATUTE. (a) This...

Section 28-7-104 - NEGOTIABLE AND NONNEGOTIABLE DOCUMENT OF TITLE. - 28-7-104. NEGOTIABLE AND NONNEGOTIABLE DOCUMENT OF TITLE. (a) Except as...

Section 28-7-105 - REISSUANCE IN ALTERNATIVE MEDIUM. - 28-7-105. REISSUANCE IN ALTERNATIVE MEDIUM. (a) Upon request of a...

Section 28-7-106 - CONTROL OF ELECTRONIC DOCUMENT OF TITLE. - 28-7-106. CONTROL OF ELECTRONIC DOCUMENT OF TITLE. (a) A person...

Part 2 - WAREHOUSE RECEIPTS — SPECIAL PROVISIONS

Section 28-7-201 - PERSON THAT MAY ISSUE A WAREHOUSE RECEIPT — STORAGE UNDER BOND. - 28-7-201. PERSON THAT MAY ISSUE A WAREHOUSE RECEIPT — STORAGE...

Section 28-7-202 - FORM OF WAREHOUSE RECEIPT — EFFECT OF OMISSION. - 28-7-202. FORM OF WAREHOUSE RECEIPT — EFFECT OF OMISSION. (a)...

Section 28-7-203 - LIABILITY FOR NONRECEIPT OR MISDESCRIPTION. - 28-7-203. LIABILITY FOR NONRECEIPT OR MISDESCRIPTION. A party to or...

Section 28-7-204 - DUTY OF CARE — CONTRACTUAL LIMITATION OF WAREHOUSE’S LIABILITY. - 28-7-204. DUTY OF CARE — CONTRACTUAL LIMITATION OF WAREHOUSE’S LIABILITY....

Section 28-7-205 - TITLE UNDER WAREHOUSE RECEIPT DEFEATED IN CERTAIN CASES. - 28-7-205. TITLE UNDER WAREHOUSE RECEIPT DEFEATED IN CERTAIN CASES. A...

Section 28-7-206 - TERMINATION OF STORAGE AT WAREHOUSE’S OPTION. - 28-7-206. TERMINATION OF STORAGE AT WAREHOUSE’S OPTION. (a) A warehouse,...

Section 28-7-207 - GOODS MUST BE KEPT SEPARATE — FUNGIBLE GOODS. - 28-7-207. GOODS MUST BE KEPT SEPARATE — FUNGIBLE GOODS. (a)...

Section 28-7-208 - ALTERED WAREHOUSE RECEIPTS. - 28-7-208. ALTERED WAREHOUSE RECEIPTS. If a blank in a negotiable...

Section 28-7-209 - LIEN OF WAREHOUSE. - 28-7-209. LIEN OF WAREHOUSE. (a) A warehouse has a lien...

Section 28-7-210 - ENFORCEMENT OF WAREHOUSE’S LIEN. - 28-7-210. ENFORCEMENT OF WAREHOUSE’S LIEN. (a) Except as otherwise provided...

Part 3 - BILLS OF LADING — SPECIAL PROVISIONS

Section 28-7-301 - LIABILITY FOR NONRECEIPT OR MISDESCRIPTION — “SAID TO CONTAIN” — “SHIPPER’S WEIGHT, LOAD, AND COUNT” — IMPROPER HANDLING. - 28-7-301. LIABILITY FOR NONRECEIPT OR MISDESCRIPTION — "SAID TO CONTAIN"...

Section 28-7-302 - THROUGH BILLS OF LADING AND SIMILAR DOCUMENTS OF TITLE. - 28-7-302. THROUGH BILLS OF LADING AND SIMILAR DOCUMENTS OF TITLE....

Section 28-7-303 - DIVERSION — RECONSIGNMENT — CHANGE OF INSTRUCTIONS. - 28-7-303. DIVERSION — RECONSIGNMENT — CHANGE OF INSTRUCTIONS. (a) Unless...

Section 28-7-304 - TANGIBLE BILLS OF LADING IN A SET. - 28-7-304. TANGIBLE BILLS OF LADING IN A SET. (a) Except...

Section 28-7-305 - DESTINATION BILLS. - 28-7-305. DESTINATION BILLS. (a) Instead of issuing a bill of...

Section 28-7-306 - ALTERED BILLS OF LADING. - 28-7-306. ALTERED BILLS OF LADING. An unauthorized alteration or filling...

Section 28-7-307 - LIEN OF CARRIER. - 28-7-307. LIEN OF CARRIER. (a) A carrier has a lien...

Section 28-7-308 - ENFORCEMENT OF CARRIER’S LIEN. - 28-7-308. ENFORCEMENT OF CARRIER’S LIEN. (a) A carrier’s lien on...

Section 28-7-309 - DUTY OF CARE — CONTRACTUAL LIMITATION OF CARRIER’S LIABILITY. - 28-7-309. DUTY OF CARE — CONTRACTUAL LIMITATION OF CARRIER’S LIABILITY....

Part 4 - WAREHOUSE RECEIPTS AND BILLS OF LADING — GENERAL OBLIGATIONS

Section 28-7-401 - IRREGULARITIES IN ISSUE OF RECEIPT OR BILL OR CONDUCT OF ISSUER. - 28-7-401. IRREGULARITIES IN ISSUE OF RECEIPT OR BILL OR CONDUCT...

Section 28-7-402 - DUPLICATE DOCUMENT OF TITLE — OVERISSUE. - 28-7-402. DUPLICATE DOCUMENT OF TITLE — OVERISSUE. A duplicate or...

Section 28-7-403 - OBLIGATION OF BAILEE TO DELIVER — EXCUSE. - 28-7-403. OBLIGATION OF BAILEE TO DELIVER — EXCUSE. (a) A...

Section 28-7-404 - NO LIABILITY FOR GOOD-FAITH DELIVERY PURSUANT TO DOCUMENT OF TITLE. - 28-7-404. NO LIABILITY FOR GOOD-FAITH DELIVERY PURSUANT TO DOCUMENT OF...

Part 5 - WAREHOUSE RECEIPTS AND BILLS OF LADING — NEGOTIATION AND TRANSFER

Section 28-7-501 - FORM OF NEGOTIATION AND REQUIREMENTS OF DUE NEGOTIATION. - 28-7-501. FORM OF NEGOTIATION AND REQUIREMENTS OF DUE NEGOTIATION. (a)...

Section 28-7-502 - RIGHTS ACQUIRED BY DUE NEGOTIATION. - 28-7-502. RIGHTS ACQUIRED BY DUE NEGOTIATION. (a) Subject to sections...

Section 28-7-503 - DOCUMENT OF TITLE TO GOODS DEFEATED IN CERTAIN CASES. - 28-7-503. DOCUMENT OF TITLE TO GOODS DEFEATED IN CERTAIN CASES....

Section 28-7-504 - RIGHTS ACQUIRED IN ABSENCE OF DUE NEGOTIATION — EFFECT OF DIVERSION — STOPPAGE OF DELIVERY. - 28-7-504. RIGHTS ACQUIRED IN ABSENCE OF DUE NEGOTIATION — EFFECT...

Section 28-7-505 - INDORSER NOT GUARANTOR FOR OTHER PARTIES. - 28-7-505. INDORSER NOT GUARANTOR FOR OTHER PARTIES. The indorsement of...

Section 28-7-506 - DELIVERY WITHOUT INDORSEMENT — RIGHT TO COMPEL INDORSEMENT. - 28-7-506. DELIVERY WITHOUT INDORSEMENT — RIGHT TO COMPEL INDORSEMENT. The...

Section 28-7-507 - WARRANTIES ON NEGOTIATION OR DELIVERY OF DOCUMENT OF TITLE. - 28-7-507. WARRANTIES ON NEGOTIATION OR DELIVERY OF DOCUMENT OF TITLE....

Section 28-7-508 - WARRANTIES OF COLLECTING BANK AS TO DOCUMENTS OF TITLE. - 28-7-508. WARRANTIES OF COLLECTING BANK AS TO DOCUMENTS OF TITLE....

Section 28-7-509 - ADEQUATE COMPLIANCE WITH COMMERCIAL CONTRACT. - 28-7-509. ADEQUATE COMPLIANCE WITH COMMERCIAL CONTRACT. Whether a document of...

Part 6 - WAREHOUSE RECEIPTS AND BILLS OF LADING — MISCELLANEOUS PROVISIONS

Section 28-7-601 - LOST, STOLEN, OR DESTROYED DOCUMENTS OF TITLE. - 28-7-601. LOST, STOLEN, OR DESTROYED DOCUMENTS OF TITLE. (a) If...

Section 28-7-602 - JUDICIAL PROCESS AGAINST GOODS COVERED BY NEGOTIABLE DOCUMENTS OF TITLE. - 28-7-602. JUDICIAL PROCESS AGAINST GOODS COVERED BY NEGOTIABLE DOCUMENTS OF...

Section 28-7-603 - CONFLICTING CLAIMS — INTERPLEADER. - 28-7-603. CONFLICTING CLAIMS — INTERPLEADER. If more than one (1)...

Part 7 - MISCELLANEOUS PROVISIONS

Section 28-7-701 - EFFECTIVE DATE. - 28-7-701. EFFECTIVE DATE. This act takes effect on July 1,...

Section 28-7-702 - REPEALS. - 28-7-702. REPEALS. Existing chapter 7, title 28, Idaho Code, and...

Section 28-7-703 - APPLICABILITY. - 28-7-703. APPLICABILITY. This act applies to a document of title...

Section 28-7-704 - SAVINGS CLAUSE. - 28-7-704. SAVINGS CLAUSE. A document of title issued or a...

Chapter 8 - INVESTMENT SECURITIES

Part 1 - SHORT TITLE AND GENERAL MATTERS

Section 28-8-101 - SHORT TITLE. - 28-8-101. SHORT TITLE. This chapter may be cited as "Uniform...

Section 28-8-102 - DEFINITIONS. - 28-8-102. DEFINITIONS. (1) In this chapter: (a) "Adverse claim" means...

Section 28-8-103 - RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE SECURITIES OR FINANCIAL ASSETS. - 28-8-103. RULES FOR DETERMINING WHETHER CERTAIN OBLIGATIONS AND INTERESTS ARE...

Section 28-8-104 - ACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST THEREIN. - 28-8-104. ACQUISITION OF SECURITY OR FINANCIAL ASSET OR INTEREST THEREIN....

Section 28-8-105 - NOTICE OF ADVERSE CLAIM. - 28-8-105. NOTICE OF ADVERSE CLAIM. (1) A person has notice...

Section 28-8-106 - CONTROL. - 28-8-106. CONTROL. (1) A purchaser has "control" of a certificated...

Section 28-8-107 - WHETHER INDORSEMENT, INSTRUCTION OR ENTITLEMENT ORDER IS EFFECTIVE. - 28-8-107. WHETHER INDORSEMENT, INSTRUCTION OR ENTITLEMENT ORDER IS EFFECTIVE. (1)...

Section 28-8-108 - WARRANTIES IN DIRECT HOLDING. - 28-8-108. WARRANTIES IN DIRECT HOLDING. (1) A person who transfers...

Section 28-8-109 - WARRANTIES IN INDIRECT HOLDING. - 28-8-109. WARRANTIES IN INDIRECT HOLDING. (1) A person who originates...

Section 28-8-110 - APPLICABILITY AND CHOICE OF LAW. - 28-8-110. APPLICABILITY AND CHOICE OF LAW. (1) The local law...

Section 28-8-111 - CLEARING CORPORATION RULES. - 28-8-111. CLEARING CORPORATION RULES. A rule adopted by a clearing...

Section 28-8-112 - CREDITOR’S LEGAL PROCESS. - 28-8-112. CREDITOR’S LEGAL PROCESS. (1) The interest of a debtor...

Section 28-8-113 - STATUTE OF FRAUDS INAPPLICABLE. - 28-8-113. STATUTE OF FRAUDS INAPPLICABLE. A contract or modification of...

Section 28-8-114 - EVIDENTIARY RULES CONCERNING CERTIFICATED SECURITIES. - 28-8-114. EVIDENTIARY RULES CONCERNING CERTIFICATED SECURITIES. The following rules apply...

Section 28-8-115 - SECURITIES INTERMEDIARY AND OTHERS NOT LIABLE TO ADVERSE CLAIMANT. - 28-8-115. SECURITIES INTERMEDIARY AND OTHERS NOT LIABLE TO ADVERSE CLAIMANT....

Section 28-8-116 - SECURITIES INTERMEDIARY AS PURCHASER FOR VALUE. - 28-8-116. SECURITIES INTERMEDIARY AS PURCHASER FOR VALUE. A securities intermediary...

Section 28-8-117 - SAVINGS CLAUSE. - 28-8-117. SAVINGS CLAUSE. (1) This act does not affect an...

Part 2 - ISSUE AND ISSUER

Section 28-8-201 - ISSUER. - 28-8-201. ISSUER. (1) With respect to an obligation on or...

Section 28-8-202 - ISSUER’S RESPONSIBILITY AND DEFENSES AND NOTICE OF DEFECT OR DEFENSE. - 28-8-202. ISSUER’S RESPONSIBILITY AND DEFENSES AND NOTICE OF DEFECT OR...

Section 28-8-203 - STALENESS AS NOTICE OF DEFECT OR DEFENSE. - 28-8-203. STALENESS AS NOTICE OF DEFECT OR DEFENSE. After an...

Section 28-8-204 - EFFECT OF ISSUER’S RESTRICTION ON TRANSFER. - 28-8-204. EFFECT OF ISSUER’S RESTRICTION ON TRANSFER. A restriction on...

Section 28-8-205 - EFFECT OF UNAUTHORIZED SIGNATURE ON SECURITY CERTIFICATE. - 28-8-205. EFFECT OF UNAUTHORIZED SIGNATURE ON SECURITY CERTIFICATE. An unauthorized...

Section 28-8-206 - COMPLETION OR ALTERATION OF SECURITY CERTIFICATE. - 28-8-206. COMPLETION OR ALTERATION OF SECURITY CERTIFICATE. (1) If a...

Section 28-8-207 - RIGHTS AND DUTIES OF ISSUER WITH RESPECT TO REGISTERED OWNERS. - 28-8-207. RIGHTS AND DUTIES OF ISSUER WITH RESPECT TO REGISTERED...

Section 28-8-208 - EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR OR TRANSFER AGENT. - 28-8-208. EFFECT OF SIGNATURE OF AUTHENTICATING TRUSTEE, REGISTRAR OR TRANSFER...

Section 28-8-209 - ISSUER’S LIEN. - 28-8-209. ISSUER’S LIEN. A lien in favor of an issuer...

Section 28-8-210 - OVERISSUE. - 28-8-210. OVERISSUE. (1) In this section, "overissue" means the issue...

Part 3 - TRANSFER OF CERTIFICATED AND UNCERTIFICATED SECURITIES

Section 28-8-301 - DELIVERY. - 28-8-301. DELIVERY. (1) Delivery of a certificated security to a...

Section 28-8-302 - RIGHTS OF PURCHASER. - 28-8-302. RIGHTS OF PURCHASER. (1) Except as otherwise provided in...

Section 28-8-303 - PROTECTED PURCHASER. - 28-8-303. PROTECTED PURCHASER. (1) "Protected purchaser" means a purchaser of...

Section 28-8-304 - INDORSEMENT. - 28-8-304. INDORSEMENT. (1) An indorsement may be in blank or...

Section 28-8-305 - INSTRUCTION. - 28-8-305. INSTRUCTION. (1) If an instruction has been originated by...

Section 28-8-306 - EFFECT OF GUARANTEEING SIGNATURE, INDORSEMENT OR INSTRUCTION. - 28-8-306. EFFECT OF GUARANTEEING SIGNATURE, INDORSEMENT OR INSTRUCTION. (1) A...

Section 28-8-307 - PURCHASER’S RIGHT TO REQUISITES FOR REGISTRATION OF TRANSFER. - 28-8-307. PURCHASER’S RIGHT TO REQUISITES FOR REGISTRATION OF TRANSFER. Unless...

Part 4 - REGISTRATION

Section 28-8-401 - DUTY OF ISSUER TO REGISTER TRANSFER. - 28-8-401. DUTY OF ISSUER TO REGISTER TRANSFER. (1) If a...

Section 28-8-402 - ASSURANCE THAT INDORSEMENT OR INSTRUCTION IS EFFECTIVE. - 28-8-402. ASSURANCE THAT INDORSEMENT OR INSTRUCTION IS EFFECTIVE. (1) An...

Section 28-8-403 - DEMAND THAT ISSUER NOT REGISTER TRANSFER. - 28-8-403. DEMAND THAT ISSUER NOT REGISTER TRANSFER. (1) A person...

Section 28-8-404 - WRONGFUL REGISTRATION. - 28-8-404. WRONGFUL REGISTRATION. (1) Except as otherwise provided in section...

Section 28-8-405 - REPLACEMENT OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE. - 28-8-405. REPLACEMENT OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE....

Section 28-8-406 - OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED OR WRONGFULLY TAKEN SECURITY CERTIFICATE. - 28-8-406. OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED OR WRONGFULLY...

Section 28-8-407 - AUTHENTICATING TRUSTEE, TRANSFER AGENT, AND REGISTRAR. - 28-8-407. AUTHENTICATING TRUSTEE, TRANSFER AGENT, AND REGISTRAR. A person acting...

Part 5 - SECURITY ENTITLEMENTS

Section 28-8-501 - SECURITIES ACCOUNT AND ACQUISITION OF SECURITY ENTITLEMENT FROM SECURITIES INTERMEDIARY. - 28-8-501. SECURITIES ACCOUNT AND ACQUISITION OF SECURITY ENTITLEMENT FROM SECURITIES...

Section 28-8-502 - ASSERTION OF ADVERSE CLAIM AGAINST ENTITLEMENT HOLDER. - 28-8-502. ASSERTION OF ADVERSE CLAIM AGAINST ENTITLEMENT HOLDER. An action...

Section 28-8-503 - PROPERTY INTEREST OF ENTITLEMENT HOLDER IN FINANCIAL ASSET HELD BY SECURITIES INTERMEDIARY. - 28-8-503. PROPERTY INTEREST OF ENTITLEMENT HOLDER IN FINANCIAL ASSET HELD...

Section 28-8-504 - DUTY OF SECURITIES INTERMEDIARY TO MAINTAIN FINANCIAL ASSET. - 28-8-504. DUTY OF SECURITIES INTERMEDIARY TO MAINTAIN FINANCIAL ASSET. (1)...

Section 28-8-505 - DUTY OF SECURITIES INTERMEDIARY WITH RESPECT TO PAYMENTS AND DISTRIBUTIONS. - 28-8-505. DUTY OF SECURITIES INTERMEDIARY WITH RESPECT TO PAYMENTS AND...

Section 28-8-506 - DUTY OF SECURITIES INTERMEDIARY TO EXERCISE RIGHTS AS DIRECTED BY ENTITLEMENT HOLDER. - 28-8-506. DUTY OF SECURITIES INTERMEDIARY TO EXERCISE RIGHTS AS DIRECTED...

Section 28-8-507 - DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER. - 28-8-507. DUTY OF SECURITIES INTERMEDIARY TO COMPLY WITH ENTITLEMENT ORDER....

Section 28-8-508 - DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER’S POSITION TO OTHER FORM OF SECURITY HOLDING. - 28-8-508. DUTY OF SECURITIES INTERMEDIARY TO CHANGE ENTITLEMENT HOLDER’S POSITION...

Section 28-8-509 - SPECIFICATION OF DUTIES OF SECURITIES INTERMEDIARY BY OTHER STATUTE OR REGULATION — MANNER OF PERFORMANCE OF DUTIES OF SECURITIES INTERMEDIARY AND EXERCISE OF RIGHTS OF ENTITLEMENT HOLDER. - 28-8-509. SPECIFICATION OF DUTIES OF SECURITIES INTERMEDIARY BY OTHER STATUTE...

Section 28-8-510 - RIGHTS OF PURCHASER OF SECURITY ENTITLEMENT FROM ENTITLEMENT HOLDER. - 28-8-510. RIGHTS OF PURCHASER OF SECURITY ENTITLEMENT FROM ENTITLEMENT HOLDER....

Section 28-8-511 - PRIORITY AMONG SECURITY INTERESTS AND ENTITLEMENT HOLDERS. - 28-8-511. PRIORITY AMONG SECURITY INTERESTS AND ENTITLEMENT HOLDERS. (1) Except...

Chapter 9 - SECURED TRANSACTIONS

Part 1 - GENERAL PROVISIONS

Section 28-9-101 - SHORT TITLE. - 28-9-101. SHORT TITLE. This chapter may be cited as "Uniform...

Section 28-9-102 - DEFINITIONS AND INDEX OF DEFINITIONS. - 28-9-102. DEFINITIONS AND INDEX OF DEFINITIONS. (a) In this chapter:...

Section 28-9-103 - PURCHASE-MONEY SECURITY INTEREST — APPLICATION OF PAYMENTS — BURDEN OF ESTABLISHING. - 28-9-103. PURCHASE-MONEY SECURITY INTEREST — APPLICATION OF PAYMENTS — BURDEN...

Section 28-9-104 - CONTROL OF DEPOSIT ACCOUNT. - 28-9-104. CONTROL OF DEPOSIT ACCOUNT. (a) A secured party has...

Section 28-9-105 - CONTROL OF ELECTRONIC CHATTEL PAPER. - 28-9-105. CONTROL OF ELECTRONIC CHATTEL PAPER. (a) A secured party...

Section 28-9-106 - CONTROL OF INVESTMENT PROPERTY. - 28-9-106. CONTROL OF INVESTMENT PROPERTY. (a) A person has control...

Section 28-9-107 - CONTROL OF LETTER OF CREDIT RIGHT. - 28-9-107. CONTROL OF LETTER OF CREDIT RIGHT. A secured party...

Section 28-9-108 - SUFFICIENCY OF DESCRIPTION. - 28-9-108. SUFFICIENCY OF DESCRIPTION. (a) Except as otherwise provided in...

Section 28-9-109 - SCOPE. - 28-9-109. SCOPE. (a) Except as otherwise provided in subsections (c)...

Section 28-9-110 - SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE 28, IDAHO CODE. - 28-9-110. SECURITY INTERESTS ARISING UNDER CHAPTER 2 OR 12, TITLE...

Part 2 - EFFECTIVENESS OF SECURITY AGREEMENT — ATTACHMENT OF SECURITY INTEREST — RIGHTS OF PARTIES TO SECURITY AGREEMENT

Section 28-9-201 - GENERAL EFFECTIVENESS OF SECURITY AGREEMENT. - 28-9-201. GENERAL EFFECTIVENESS OF SECURITY AGREEMENT. (a) Except as otherwise...

Section 28-9-202 - TITLE TO COLLATERAL IMMATERIAL. - 28-9-202. TITLE TO COLLATERAL IMMATERIAL. Except as otherwise provided with...

Section 28-9-203 - ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST — PROCEEDS — SUPPORTING OBLIGATIONS — FORMAL REQUISITES. - 28-9-203. ATTACHMENT AND ENFORCEABILITY OF SECURITY INTEREST — PROCEEDS —...

Section 28-9-204 - AFTER-ACQUIRED PROPERTY — FUTURE ADVANCES. - 28-9-204. AFTER-ACQUIRED PROPERTY — FUTURE ADVANCES. (a) Except as otherwise...

Section 28-9-205 - USE OR DISPOSITION OF COLLATERAL PERMISSIBLE. - 28-9-205. USE OR DISPOSITION OF COLLATERAL PERMISSIBLE. (a) A security...

Section 28-9-206 - SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL ASSET. - 28-9-206. SECURITY INTEREST ARISING IN PURCHASE OR DELIVERY OF FINANCIAL...

Section 28-9-207 - RIGHTS AND DUTIES OF SECURED PARTY HAVING POSSESSION OR CONTROL OF COLLATERAL. - 28-9-207. RIGHTS AND DUTIES OF SECURED PARTY HAVING POSSESSION OR...

Section 28-9-208 - ADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL. - 28-9-208. ADDITIONAL DUTIES OF SECURED PARTY HAVING CONTROL OF COLLATERAL....

Section 28-9-209 - DUTIES OF SECURED PARTY IF ACCOUNT DEBTOR HAS BEEN NOTIFIED OF ASSIGNMENT. - 28-9-209. DUTIES OF SECURED PARTY IF ACCOUNT DEBTOR HAS BEEN...

Section 28-9-210 - REQUEST FOR ACCOUNTING — REQUEST REGARDING LIST OF COLLATERAL OR STATEMENT OF ACCOUNT. - 28-9-210. REQUEST FOR ACCOUNTING — REQUEST REGARDING LIST OF COLLATERAL...

Part 3 - PERFECTION AND PRIORITY

Section 28-9-301 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS. - 28-9-301. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS. Except...

Section 28-9-302 - LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS. - 28-9-302. LAW GOVERNING PERFECTION AND PRIORITY OF AGRICULTURAL LIENS. While...

Section 28-9-303 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY A CERTIFICATE OF TITLE. - 28-9-303. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN...

Section 28-9-304 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNTS. - 28-9-304. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN...

Section 28-9-305 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY. - 28-9-305. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN...

Section 28-9-306 - LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHTS. - 28-9-306. LAW GOVERNING PERFECTION AND PRIORITY OF SECURITY INTERESTS IN...

Section 28-9-307 - LOCATION OF DEBTOR. - 28-9-307. LOCATION OF DEBTOR. (a) In this section, "place of...

Section 28-9-308 - WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED — CONTINUITY OF PERFECTION. - 28-9-308. WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED —...

Section 28-9-309 - SECURITY INTEREST PERFECTED UPON ATTACHMENT. - 28-9-309. SECURITY INTEREST PERFECTED UPON ATTACHMENT. The following security interests...

Section 28-9-310 - WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL LIEN — SECURITY INTERESTS AND AGRICULTURAL LIENS TO WHICH FILING PROVISIONS DO NOT APPLY. - 28-9-310. WHEN FILING REQUIRED TO PERFECT SECURITY INTEREST OR AGRICULTURAL...

Section 28-9-311 - PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN STATUTES, REGULATIONS AND TREATIES. - 28-9-311. PERFECTION OF SECURITY INTERESTS IN PROPERTY SUBJECT TO CERTAIN...

Section 28-9-312 - PERFECTION OF SECURITY INTERESTS IN CHATTEL PAPER, DEPOSIT ACCOUNTS, DOCUMENTS, GOODS COVERED BY DOCUMENTS, INSTRUMENTS, INVESTMENT PROPERTY, LETTER OF CREDIT RIGHTS AND MONEY — PERFECTION BY PERMISSIVE FILING — TEMPORARY PERFECTIO... - 28-9-312. PERFECTION OF SECURITY INTERESTS IN CHATTEL PAPER, DEPOSIT ACCOUNTS,...

Section 28-9-313 - WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS SECURITY INTEREST WITHOUT FILING. - 28-9-313. WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY PERFECTS...

Section 28-9-314 - PERFECTION BY CONTROL. - 28-9-314. PERFECTION BY CONTROL. (a) A security interest in investment...

Section 28-9-315 - SECURED PARTY’S RIGHTS ON DISPOSITION OF COLLATERAL AND IN PROCEEDS. - 28-9-315. SECURED PARTY’S RIGHTS ON DISPOSITION OF COLLATERAL AND IN...

Section 28-9-316 - EFFECT OF CHANGE IN GOVERNING LAW. - 28-9-316. EFFECT OF CHANGE IN GOVERNING LAW. (a) A security...

Section 28-9-317 - INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF SECURITY INTEREST OR AGRICULTURAL LIEN. - 28-9-317. INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE OF...

Section 28-9-318 - NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS SOLD — RIGHTS AND TITLE OF SELLER OF ACCOUNT OR CHATTEL PAPER WITH RESPECT TO CREDITORS AND PURCHASERS. - 28-9-318. NO INTEREST RETAINED IN RIGHT TO PAYMENT THAT IS...

Section 28-9-319 - RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS AND PURCHASERS. - 28-9-319. RIGHTS AND TITLE OF CONSIGNEE WITH RESPECT TO CREDITORS...

Section 28-9-320 - BUYER OF GOODS. - 28-9-320. BUYER OF GOODS. (a) Except as otherwise provided in...

Section 28-9-321 - LICENSEE OF GENERAL INTANGIBLE AND LESSEE OF GOODS IN ORDINARY COURSE OF BUSINESS. - 28-9-321. LICENSEE OF GENERAL INTANGIBLE AND LESSEE OF GOODS IN...

Section 28-9-322 - PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN AND AGRICULTURAL LIENS ON SAME COLLATERAL. - 28-9-322. PRIORITIES AMONG CONFLICTING SECURITY INTERESTS IN AND AGRICULTURAL LIENS...

Section 28-9-322A - SECURITY INTERESTS IN CROPS FOR PROVISION OF AGRICULTURAL CHEMICALS. - 28-9-322A. SECURITY INTERESTS IN CROPS FOR PROVISION OF AGRICULTURAL CHEMICALS....

Section 28-9-323 - FUTURE ADVANCES. - 28-9-323. FUTURE ADVANCES. (a) Except as otherwise provided in subsection...

Section 28-9-324 - PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS. - 28-9-324. PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS. (a) Except as otherwise...

Section 28-9-325 - PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL. - 28-9-325. PRIORITY OF SECURITY INTERESTS IN TRANSFERRED COLLATERAL. (a) Except...

Section 28-9-326 - PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR. - 28-9-326. PRIORITY OF SECURITY INTERESTS CREATED BY NEW DEBTOR. (a)...

Section 28-9-327 - PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT. - 28-9-327. PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT. The following...

Section 28-9-328 - PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY. - 28-9-328. PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY. The following...

Section 28-9-329 - PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHT. - 28-9-329. PRIORITY OF SECURITY INTERESTS IN LETTER OF CREDIT RIGHT....

Section 28-9-330 - PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT. - 28-9-330. PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT. (a)...

Section 28-9-331 - PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS AND SECURITIES UNDER OTHER CHAPTERS — PRIORITY OF INTERESTS IN FINANCIAL ASSETS AND SECURITY ENTITLEMENTS UNDER CHAPTER 8. - 28-9-331. PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS AND...

Section 28-9-332 - TRANSFER OF MONEY — TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT. - 28-9-332. TRANSFER OF MONEY — TRANSFER OF FUNDS FROM DEPOSIT...

Section 28-9-333 - PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW. - 28-9-333. PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW....

Section 28-9-334 - PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS. - 28-9-334. PRIORITY OF SECURITY INTERESTS IN FIXTURES AND CROPS. (a)...

Section 28-9-335 - ACCESSIONS. - 28-9-335. ACCESSIONS. (a) A security interest may be created in...

Section 28-9-336 - COMMINGLED GOODS. - 28-9-336. COMMINGLED GOODS. (a) In this section, "commingled goods" means...

Section 28-9-337 - PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE OF TITLE. - 28-9-337. PRIORITY OF SECURITY INTERESTS IN GOODS COVERED BY CERTIFICATE...

Section 28-9-338 - PRIORITY OF SECURITY INTEREST OR AGRICULTURAL LIEN PERFECTED BY FILED FINANCING STATEMENT PROVIDING CERTAIN INCORRECT INFORMATION. - 28-9-338. PRIORITY OF SECURITY INTEREST OR AGRICULTURAL LIEN PERFECTED BY...

Section 28-9-339 - PRIORITY SUBJECT TO SUBORDINATION. - 28-9-339. PRIORITY SUBJECT TO SUBORDINATION. This article does not preclude...

Section 28-9-340 - EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT ACCOUNT. - 28-9-340. EFFECTIVENESS OF RIGHT OF RECOUPMENT OR SET-OFF AGAINST DEPOSIT...

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Idaho Code Title 28 - COMMERCIAL TRANSACTIONS

Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS