Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE

11 §1-102. Purposes; rules of construction; variation by agreement (REPEALED) - §1-102. Purposes; rules of construction; variation by agreement (REPEALED) SECTION...

11 §1-103. Supplementary general principles of law applicable (REPEALED) - §1-103. Supplementary general principles of law applicable (REPEALED) SECTION HISTORY...

11 §1-104. Construction against implicit repeal (REPEALED) - §1-104. Construction against implicit repeal (REPEALED) SECTION HISTORY PL 2009,...

11 §1-105. Territorial application of Title; parties' power to choose applicable law (REPEALED) - §1-105. Territorial application of Title; parties' power to choose applicable...

11 §1-106. Remedies to be liberally administered (REPEALED) - §1-106. Remedies to be liberally administered (REPEALED) SECTION HISTORY PL...

11 §1-107. Waiver or renunciation of claim or right after breach (REPEALED) - §1-107. Waiver or renunciation of claim or right after breach...

11 §1-108. Severability (REPEALED) - §1-108. Severability (REPEALED) SECTION HISTORY PL 2009, c. 325, Pt....

Part 2: GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION

11 §1-201. General definitions (REPEALED) - §1-201. General definitions (REPEALED) SECTION HISTORY PL 1965, c. 306,...

11 §1-202. Prima facie evidence by third party documents (REPEALED) - §1-202. Prima facie evidence by third party documents (REPEALED) SECTION...

11 §1-203. Obligations of good faith (REPEALED) - §1-203. Obligations of good faith (REPEALED) SECTION HISTORY PL 2009,...

11 §1-204. Time; reasonable times; "seasonably" (REPEALED) - §1-204. Time; reasonable times; "seasonably" (REPEALED) SECTION HISTORY PL 2009,...

11 §1-205. Course of dealing and usage of trade (REPEALED) - §1-205. Course of dealing and usage of trade (REPEALED) SECTION...

11 §1-206. Statute of frauds for kinds of personal property not otherwise covered (REPEALED) - §1-206. Statute of frauds for kinds of personal property not...

11 §1-207. Performance or acceptance under reservation of rights (REPEALED) - §1-207. Performance or acceptance under reservation of rights (REPEALED) SECTION...

11 §1-208. Option to accelerate at will (REPEALED) - §1-208. Option to accelerate at will (REPEALED) SECTION HISTORY PL...

Article 1-A: GENERAL PROVISIONS

Part 1: GENERAL PROVISIONS

11 §1-1101. Short titles - §1-1101. Short titles (1). This Title may be cited as...

11 §1-1102. Scope of article - §1-1102. Scope of article This Article applies to a transaction...

11 §1-1103. Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law - §1-1103. Construction of Uniform Commercial Code to promote its purposes...

11 §1-1104. Construction against implied repeal - §1-1104. Construction against implied repeal The Uniform Commercial Code being...

11 §1-1105. Severability - §1-1105. Severability If any provision or clause of the Uniform...

11 §1-1106. Use of singular and plural; gender - §1-1106. Use of singular and plural; gender In the Uniform...

11 §1-1107. Section captions - §1-1107. Section captions Section captions are part of the Uniform...

11 §1-1108. Relation to electronic signatures in Electronic Signatures in Global and National Commerce Act - §1-1108. Relation to electronic signatures in Electronic Signatures in Global...

Part 2: GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION

11 §1-1201. General definitions - §1-1201. General definitions Unless the context otherwise requires, words or...

11 §1-1202. Notice; knowledge - §1-1202. Notice; knowledge (1). Subject to subsection (6), a person...

11 §1-1203. Lease distinguished from security interest - §1-1203. Lease distinguished from security interest (1). Whether a transaction...

11 §1-1204. Value - §1-1204. Value Except as otherwise provided in Articles 3‑A, 4...

11 §1-1205. Reasonable time; seasonableness - §1-1205. Reasonable time; seasonableness (1). Whether a time for taking...

11 §1-1206. Presumptions - §1-1206. Presumptions Whenever the Uniform Commercial Code creates a "presumption"...

Part 3: TERRITORIAL APPLICABILITY AND GENERAL RULES

11 §1-1301. Territorial applicability; parties' power to choose applicable law - §1-1301. Territorial applicability; parties' power to choose applicable law (1)....

11 §1-1302. Variation by agreement - §1-1302. Variation by agreement (1). Except as otherwise provided in...

11 §1-1303. Course of performance, course of dealing and usage of trade - §1-1303. Course of performance, course of dealing and usage of...

11 §1-1304. Obligation of good faith - §1-1304. Obligation of good faith Every contract or duty within...

11 §1-1305. Remedies to be liberally administered - §1-1305. Remedies to be liberally administered (1). The remedies provided...

11 §1-1306. Waiver or renunciation of claim or right after breach - §1-1306. Waiver or renunciation of claim or right after breach...

11 §1-1307. Prima facie evidence by 3rd-party documents - §1-1307. Prima facie evidence by 3rd-party documents A document in...

11 §1-1308. Performance or acceptance under reservation of rights - §1-1308. Performance or acceptance under reservation of rights (1). A...

11 §1-1309. Option to accelerate at will - §1-1309. Option to accelerate at will A term providing that...

11 §1-1310. Subordinated obligations - §1-1310. Subordinated obligations An obligation may be issued as subordinated...

Article 2: SALES

Part 1: SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER

11 §2-101. Short title - §2-101. Short title This Article shall be known and may...

11 §2-102. Scope: certain security and other transactions excluded from this Article - §2-102. Scope: certain security and other transactions excluded from this...

11 §2-103. Definitions and index of definitions - §2-103. Definitions and index of definitions (1). In this Article...

11 §2-104. Definitions: "merchant"; "between merchants"; "financing agency" - §2-104. Definitions: "merchant"; "between merchants"; "financing agency" (1). Merchant. "Merchant"...

11 §2-105. Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit" - §2-105. Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit" (1)....

11 §2-106. Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation" - §2-106. Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale";...

11 §2-107. Goods to be severed from realty: recording - §2-107. Goods to be severed from realty: recording (1). A...

11 §2-108. Miscellaneous health provisions; blood or tissue transfer services - §2-108. Miscellaneous health provisions; blood or tissue transfer services The...

Part 2: FORM, FORMATION AND READJUSTMENT OF CONTRACT

11 §2-201. Formal requirements: statute of frauds - §2-201. Formal requirements: statute of frauds (1). Except as otherwise...

11 §2-202. Final written expression: parol or extrinsic evidence - §2-202. Final written expression: parol or extrinsic evidence Terms with...

11 §2-203. Seals inoperative - §2-203. Seals inoperative The affixing of a seal to a...

11 §2-204. Formation in general - §2-204. Formation in general (1). A contract for sale of...

11 §2-205. Firm offers - §2-205. Firm offers An offer by a merchant to buy...

11 §2-206. Offer and acceptance in formation of contract - §2-206. Offer and acceptance in formation of contract (1). Unless...

11 §2-207. Additional terms in acceptance or confirmation - §2-207. Additional terms in acceptance or confirmation (1). A definite...

11 §2-208. Course of performance or practical construction (REPEALED) - §2-208. Course of performance or practical construction (REPEALED) SECTION HISTORY...

11 §2-209. Modification, rescission and waiver - §2-209. Modification, rescission and waiver (1). An agreement modifying a...

11 §2-210. Delegation of performance; assignment of rights - §2-210. Delegation of performance; assignment of rights (1). A party...

Part 3: GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT

11 §2-301. General obligations of parties - §2-301. General obligations of parties The obligation of the seller...

11 §2-302. Unconscionable contract or clause - §2-302. Unconscionable contract or clause (1). If the court as...

11 §2-303. Allocation or division of risks - §2-303. Allocation or division of risks Where this Article allocates...

11 §2-304. Price payable in money, goods, realty or otherwise - §2-304. Price payable in money, goods, realty or otherwise (1)....

11 §2-305. Open price term - §2-305. Open price term (1). The parties if they so...

11 §2-306. Output, requirements and exclusive dealings - §2-306. Output, requirements and exclusive dealings (1). A term which...

11 §2-307. Delivery in single lot or several lots - §2-307. Delivery in single lot or several lots Unless otherwise...

11 §2-308. Absence of specified place for delivery - §2-308. Absence of specified place for delivery Unless otherwise agreed...

11 §2-309. Absence of specific time provisions; notice of termination - §2-309. Absence of specific time provisions; notice of termination (1)....

11 §2-310. Open time for payment or running of credit; authority to ship under reservation - §2-310. Open time for payment or running of credit; authority...

11 §2-311. Options and cooperation respecting performance - §2-311. Options and cooperation respecting performance (1). An agreement for...

11 §2-312. Warranty of title and against infringement; buyer's obligation against infringement - §2-312. Warranty of title and against infringement; buyer's obligation against...

11 §2-313. Express warranties by affirmation, promise, description, sample - §2-313. Express warranties by affirmation, promise, description, sample (1). Express...

11 §2-314. Implied warranty: merchantability; usage of trade - §2-314. Implied warranty: merchantability; usage of trade (1). Unless excluded...

11 §2-315. Implied warranty: fitness for particular purpose - §2-315. Implied warranty: fitness for particular purpose Where the seller...

11 §2-316. Exclusion or modification of warranties - §2-316. Exclusion or modification of warranties (1). Words or conduct...

11 §2-317. Cumulation and conflict of warranties express or implied - §2-317. Cumulation and conflict of warranties express or implied Warranties...

11 §2-318. When lack of privity no defense in action against manufacturer, seller or supplier of goods - §2-318. When lack of privity no defense in action against...

11 §2-319. F.O.B. and F.A.S. terms - §2-319. F.O.B. and F.A.S. terms (1). Unless otherwise agreed the...

11 §2-320. C.I.F. and C.& F. terms - §2-320. C.I.F. and C.& F. terms (1). The term C.I.F....

11 §2-321. C.I.F. or C.& F.: "net landed weights"; "payment on arrival"; warranty of condition on arrival - §2-321. C.I.F. or C.& F.: "net landed weights"; "payment on...

11 §2-322. Delivery "exship" - §2-322. Delivery "exship" (1). Unless otherwise agreed a term for...

11 §2-323. Forms of bill of lading required in overseas shipment; "overseas" - §2-323. Forms of bill of lading required in overseas shipment;...

11 §2-324. "No arrival, no sale" term - §2-324. "No arrival, no sale" term Under a term "no...

11 §2-325. "Letter of credit" term; "confirmed credit" - §2-325. "Letter of credit" term; "confirmed credit" (1). Failure of...

11 §2-326. Sale on approval and sale or return; rights of creditors - §2-326. Sale on approval and sale or return; rights of...

11 §2-327. Special incidents of sale on approval and sale or return - §2-327. Special incidents of sale on approval and sale or...

11 §2-328. Sale by auction - §2-328. Sale by auction (1). In a sale by auction...

Part 4: TITLE, CREDITORS AND GOOD FAITH PURCHASERS

11 §2-401. Passing of title; reservation for security; limited application of this section - §2-401. Passing of title; reservation for security; limited application of...

11 §2-402. Rights of seller's creditors against sold goods - §2-402. Rights of seller's creditors against sold goods (1). Except...

11 §2-403. Power to transfer; good faith purchase of goods; "entrusting" - §2-403. Power to transfer; good faith purchase of goods; "entrusting"...

Part 5: PERFORMANCE

11 §2-501. Insurable interest in goods; manner of identification of goods - §2-501. Insurable interest in goods; manner of identification of goods...

11 §2-502. Buyer's right to goods on seller's repudiation, failure to deliver or insolvency - §2-502. Buyer's right to goods on seller's repudiation, failure to...

11 §2-503. Manner of seller's tender of delivery - §2-503. Manner of seller's tender of delivery (1). Tender of...

11 §2-504. Shipment by seller - §2-504. Shipment by seller Where the seller is required or...

11 §2-505. Seller's shipment under reservation - §2-505. Seller's shipment under reservation (1). Where the seller has...

11 §2-506. Rights of financing agency - §2-506. Rights of financing agency (1). A financing agency, by...

11 §2-507. Effect of seller's tender; delivery on condition - §2-507. Effect of seller's tender; delivery on condition (1). Tender...

11 §2-508. Cure by seller of improper tender or delivery; replacement - §2-508. Cure by seller of improper tender or delivery; replacement...

11 §2-509. Risk of loss in the absence of breach - §2-509. Risk of loss in the absence of breach (1)....

11 §2-510. Effect of breach on risk of loss - §2-510. Effect of breach on risk of loss (1). Where...

11 §2-511. Tender of payment by buyer; payment by check - §2-511. Tender of payment by buyer; payment by check (1)....

11 §2-512. Payment by buyer before inspection - §2-512. Payment by buyer before inspection (1). Where the contract...

11 §2-513. Buyer's right to inspection of goods - §2-513. Buyer's right to inspection of goods (1). Unless otherwise...

11 §2-514. When documents deliverable on acceptance; when on payment - §2-514. When documents deliverable on acceptance; when on payment Unless...

11 §2-515. Preserving evidence of goods in dispute - §2-515. Preserving evidence of goods in dispute In furtherance of...

Part 6: BREACH, REPUDIATION AND EXCUSE

11 §2-601. Buyer's rights on improper delivery - §2-601. Buyer's rights on improper delivery Subject to the provisions...

11 §2-602. Manner and effect of rightful rejection - §2-602. Manner and effect of rightful rejection (1). Rejection of...

11 §2-603. Merchant buyer's duties as to rightfully rejected goods - §2-603. Merchant buyer's duties as to rightfully rejected goods (1)....

11 §2-604. Buyer's options as to salvage of rightfully rejected goods - §2-604. Buyer's options as to salvage of rightfully rejected goods...

11 §2-605. Waiver of buyer's objections by failure to particularize - §2-605. Waiver of buyer's objections by failure to particularize (1)....

11 §2-606. What constitutes acceptance of goods - §2-606. What constitutes acceptance of goods (1). Acceptance of goods...

11 §2-607. Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over - §2-607. Effect of acceptance; notice of breach; burden of establishing...

11 §2-608. Revocation of acceptance in whole or in part - §2-608. Revocation of acceptance in whole or in part (1)....

11 §2-609. Right to adequate assurance of performance - §2-609. Right to adequate assurance of performance (1). A contract...

11 §2-610. Anticipatory repudiation - §2-610. Anticipatory repudiation When either party repudiates the contract with...

11 §2-611. Retraction of anticipatory repudiation - §2-611. Retraction of anticipatory repudiation (1). Until the repudiating party's...

11 §2-612. "Installment contract"; breach - §2-612. "Installment contract"; breach (1). An "installment contract" is one...

11 §2-613. Casualty to identified goods - §2-613. Casualty to identified goods Where the contract requires for...

11 §2-614. Substituted performance - §2-614. Substituted performance (1). Where without fault of either party...

11 §2-615. Excuse by failure of presupposed conditions - §2-615. Excuse by failure of presupposed conditions Except so far...

11 §2-616. Procedure on notice claiming excuse - §2-616. Procedure on notice claiming excuse (1). Where the buyer...

Part 7: REMEDIES

11 §2-701. Remedies for breach of collateral contracts not impaired - §2-701. Remedies for breach of collateral contracts not impaired Remedies...

11 §2-702. Seller's remedies on discovery of buyer's insolvency - §2-702. Seller's remedies on discovery of buyer's insolvency (1). Where...

11 §2-703. Seller's remedies in general - §2-703. Seller's remedies in general Where the buyer wrongfully rejects...

11 §2-704. Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods - §2-704. Seller's right to identify goods to the contract notwithstanding...

11 §2-705. Seller's stoppage of delivery in transit or otherwise - §2-705. Seller's stoppage of delivery in transit or otherwise (1)....

11 §2-706. Seller's resale including contract for resale - §2-706. Seller's resale including contract for resale (1). Under the...

11 §2-707. "Person in the position of a seller" - §2-707. "Person in the position of a seller" (1). A...

11 §2-708. Seller's damages for nonacceptance or repudiation - §2-708. Seller's damages for nonacceptance or repudiation (1). Subject to...

11 §2-709. Action for the price - §2-709. Action for the price (1). When the buyer fails...

11 §2-710. Seller's incidental damages - §2-710. Seller's incidental damages Incidental damages to an aggrieved seller...

11 §2-711. Buyer's remedies in general; buyer's security interest in rejected goods - §2-711. Buyer's remedies in general; buyer's security interest in rejected...

11 §2-712. "Cover"; buyer's procurement of substitute goods - §2-712. "Cover"; buyer's procurement of substitute goods (1). After a...

11 §2-713. Buyer's damages for nondelivery or repudiation - §2-713. Buyer's damages for nondelivery or repudiation (1). Subject to...

11 §2-714. Buyer's damages for breach in regard to accepted goods - §2-714. Buyer's damages for breach in regard to accepted goods...

11 §2-715. Buyer's incidental and consequential damages - §2-715. Buyer's incidental and consequential damages (1). Incidental damages resulting...

11 §2-716. Buyer's right to specific performance or replevin - §2-716. Buyer's right to specific performance or replevin (1). Specific...

11 §2-717. Deduction of damages from price - §2-717. Deduction of damages from price The buyer on notifying...

11 §2-718. Liquidation or limitation of damages; deposits - §2-718. Liquidation or limitation of damages; deposits (1). Damages for...

11 §2-719. Contractual modification or limitation of remedy - §2-719. Contractual modification or limitation of remedy (1). Subject to...

11 §2-720. Effect of "cancellation" or "rescission" on claims for antecedent breach - §2-720. Effect of "cancellation" or "rescission" on claims for antecedent...

11 §2-721. Remedies for fraud - §2-721. Remedies for fraud Remedies for material misrepresentation or fraud...

11 §2-722. Who can sue third parties for injury to goods - §2-722. Who can sue third parties for injury to goods...

11 §2-723. Proof of market price; time and place - §2-723. Proof of market price; time and place (1). If...

11 §2-724. Admissibility of market quotations - §2-724. Admissibility of market quotations Whenever the prevailing price or...

11 §2-725. Statute of limitations in contracts for sale - §2-725. Statute of limitations in contracts for sale (1). An...

Article 2-A: LEASES

Part 1: GENERAL PROVISIONS

11 §2-1101. Short title - §2-1101. Short title This Article may be known and cited...

11 §2-1102. Scope - §2-1102. Scope This Article applies to any transaction, regardless of...

11 §2-1103. Definitions - §2-1103. Definitions (1). In this Article, unless the context otherwise...

11 §2-1104. Leases subject to other statutes - §2-1104. Leases subject to other statutes (1). A lease, although...

11 §2-1105. Territorial application of article to goods covered by certificate of title - §2-1105. Territorial application of article to goods covered by certificate...

11 §2-1106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum - §2-1106. Limitation on power of parties to consumer lease to...

11 §2-1107. Waiver or renunciation of claim or right after default - §2-1107. Waiver or renunciation of claim or right after default...

11 §2-1108. Unconscionability - §2-1108. Unconscionability (1). If the court as a matter of...

11 §2-1109. Option to accelerate at will - §2-1109. Option to accelerate at will (1). A term providing...

Part 2: FORMATION AND CONSTRUCTION OF LEASE CONTRACT

11 §2-1201. Statute of frauds - §2-1201. Statute of frauds (1). A lease contract is not...

11 §2-1202. Final written expression; parol or extrinsic evidence - §2-1202. Final written expression; parol or extrinsic evidence Terms with...

11 §2-1203. Seals inoperative - §2-1203. Seals inoperative The affixing of a seal to a...

11 §2-1204. Formation in general - §2-1204. Formation in general (1). A lease contract may be...

11 §2-1205. Firm offers - §2-1205. Firm offers An offer by a merchant to lease...

11 §2-1206. Offer and acceptance in formation of lease contract - §2-1206. Offer and acceptance in formation of lease contract (1)....

11 §2-1207. Course of performance or practical construction (REPEALED) - §2-1207. Course of performance or practical construction (REPEALED) SECTION HISTORY...

11 §2-1208. Modification, rescission and waiver - §2-1208. Modification, rescission and waiver (1). An agreement modifying a...

11 §2-1209. Lessee under finance lease as beneficiary of supply contract - §2-1209. Lessee under finance lease as beneficiary of supply contract...

11 §2-1210. Express warranties - §2-1210. Express warranties (1). Express warranties by the lessor are...

11 §2-1211. Warranties against interference and against infringement; lessee's obligation against infringement - §2-1211. Warranties against interference and against infringement; lessee's obligation against...

11 §2-1212. Implied warranty of merchantability - §2-1212. Implied warranty of merchantability (1). Except in a finance...

11 §2-1213. Implied warranty of fitness for particular purpose - §2-1213. Implied warranty of fitness for particular purpose Except in...

11 §2-1214. Exclusion or modification of warranties - §2-1214. Exclusion or modification of warranties (1). Words or conduct...

11 §2-1215. Cumulation and conflict of warranties express or implied - §2-1215. Cumulation and conflict of warranties express or implied Warranties,...

11 §2-1216. Third-party beneficiaries of express and implied warranties - §2-1216. Third-party beneficiaries of express and implied warranties A warranty...

11 §2-1217. Identification - §2-1217. Identification Identification of goods as goods to which a...

11 §2-1218. Insurance and proceeds - §2-1218. Insurance and proceeds (1). A lessee obtains an insurable...

11 §2-1219. Risk of loss - §2-1219. Risk of loss (1). Except in the case of...

11 §2-1220. Effect of default on risk of loss - §2-1220. Effect of default on risk of loss (1). When...

11 §2-1221. Casualty to identified goods - §2-1221. Casualty to identified goods If a lease contract requires...

Part 3: EFFECT OF LEASE CONTRACT

11 §2-1301. Enforceability of lease contract - §2-1301. Enforceability of lease contract Except as otherwise provided in...

11 §2-1302. Title to and possession of goods - §2-1302. Title to and possession of goods Except as otherwise...

11 §2-1303. Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; assignment of rights - §2-1303. Alienability of party's interest under lease contract or of...

11 §2-1304. Subsequent lease of goods by lessor - §2-1304. Subsequent lease of goods by lessor (1). Subject to...

11 §2-1305. Sale or sublease of goods by lessee - §2-1305. Sale or sublease of goods by lessee (1). Subject...

11 §2-1306. Priority of certain liens arising by operation of law - §2-1306. Priority of certain liens arising by operation of law...

11 §2-1307. Priority of liens arising by attachment or levy on, security interests in and other claims to goods - §2-1307. Priority of liens arising by attachment or levy on,...

11 §2-1308. Special rights of creditors - §2-1308. Special rights of creditors (1). A creditor of a...

11 §2-1309. Lessor's and lessee's rights when goods become fixtures - §2-1309. Lessor's and lessee's rights when goods become fixtures (1)....

11 §2-1310. Lessor's and lessee's rights when goods become accessions - §2-1310. Lessor's and lessee's rights when goods become accessions (1)....

11 §2-1311. Priority subject to subordination - §2-1311. Priority subject to subordination Nothing in this Article prevents...

Part 4: PERFORMANCE OF LEASE CONTRACT: REPUDIATED, SUBSTITUTED AND EXCUSED

11 §2-1401. Insecurity; adequate assurance of performance - §2-1401. Insecurity; adequate assurance of performance (1). A lease contract...

11 §2-1402. Anticipatory repudiation - §2-1402. Anticipatory repudiation If either party repudiates a lease contract...

11 §2-1403. Retraction of anticipatory repudiation - §2-1403. Retraction of anticipatory repudiation (1). Until the repudiating party's...

11 §2-1404. Substituted performance - §2-1404. Substituted performance (1). If without fault of the lessee,...

11 §2-1405. Excused performance - §2-1405. Excused performance Subject to section 2‑1404 on substituted performance,...

11 §2-1406. Procedure on excused performance - §2-1406. Procedure on excused performance (1). If the lessee receives...

11 §2-1407. Irrevocable promises; finance leases - §2-1407. Irrevocable promises; finance leases (1). In the case of...

Part 5: DEFAULT

11 §2-1501. Default; procedure - §2-1501. Default; procedure (1). Whether the lessor or the lessee...

11 §2-1502. Notice after default - §2-1502. Notice after default Except as otherwise provided in this...

11 §2-1503. Modification or impairment of rights and remedies - §2-1503. Modification or impairment of rights and remedies (1). Except...

11 §2-1504. Liquidation of damages - §2-1504. Liquidation of damages (1). Damages payable by either party...

11 §2-1505. Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies - §2-1505. Cancellation and termination and effect of cancellation, termination, rescission...

11 §2-1506. Statute of limitations - §2-1506. Statute of limitations (1). An action for default under...

11 §2-1507. Proof of market rent; time and place - §2-1507. Proof of market rent; time and place (1). Damages...

11 §2-1508. Lessee's remedies - §2-1508. Lessee's remedies (1). If a lessor fails to deliver...

11 §2-1509. Lessee's rights on improper delivery; rightful rejection - §2-1509. Lessee's rights on improper delivery; rightful rejection (1). Subject...

11 §2-1510. Installment lease contracts; rejection and default - §2-1510. Installment lease contracts; rejection and default (1). Under an...

11 §2-1511. Merchant lessee's duties as to rightfully rejected goods - §2-1511. Merchant lessee's duties as to rightfully rejected goods (1)....

11 §2-1512. Lessee's duties as to rightfully rejected goods - §2-1512. Lessee's duties as to rightfully rejected goods (1). Except...

11 §2-1513. Cure by lessor of improper tender or delivery; replacement - §2-1513. Cure by lessor of improper tender or delivery; replacement...

11 §2-1514. Waiver of lessee's objections - §2-1514. Waiver of lessee's objections (1). In rejecting goods, a...

11 §2-1515. Acceptance of goods - §2-1515. Acceptance of goods (1). Acceptance of goods occurs after...

11 §2-1516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over - §2-1516. Effect of acceptance of goods; notice of default; burden...

11 §2-1517. Revocation of acceptance of goods - §2-1517. Revocation of acceptance of goods (1). A lessee may...

11 §2-1518. Cover; substitute goods - §2-1518. Cover; substitute goods (1). After a default by a...

11 §2-1519. Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods - §2-1519. Lessee's damages for nondelivery, repudiation, default and breach of...

11 §2-1520. Lessee's incidental and consequential damages - §2-1520. Lessee's incidental and consequential damages (1). Incidental damages resulting...

11 §2-1521. Lessee's right to specific performance or replevin - §2-1521. Lessee's right to specific performance or replevin (1). Specific...

11 §2-1522. Lessee's right to goods on lessor's insolvency - §2-1522. Lessee's right to goods on lessor's insolvency (1). Subject...

11 §2-1523. Lessor's remedies - §2-1523. Lessor's remedies (1). If a lessee wrongfully rejects or...

11 §2-1524. Lessor's right to identify goods to lease contract - §2-1524. Lessor's right to identify goods to lease contract (1)....

11 §2-1525. Lessor's right to possession of goods - §2-1525. Lessor's right to possession of goods (1). If a...

11 §2-1526. Lessor's stoppage of delivery in transit or otherwise - §2-1526. Lessor's stoppage of delivery in transit or otherwise (1)....

11 §2-1527. Lessor's rights to dispose of goods - §2-1527. Lessor's rights to dispose of goods (1). After a...

11 §2-1528. Lessor's damages for nonacceptance, failure to pay, repudiation or other default - §2-1528. Lessor's damages for nonacceptance, failure to pay, repudiation or...

11 §2-1529. Lessor's action for the rent - §2-1529. Lessor's action for the rent (1). After default by...

11 §2-1530. Lessor's incidental damages - §2-1530. Lessor's incidental damages Incidental damages to an aggrieved lessor...

11 §2-1531. Standing to sue third parties for injury to goods - §2-1531. Standing to sue third parties for injury to goods...

11 §2-1532. Lessor's rights to residual interest - §2-1532. Lessor's rights to residual interest In addition to any...

Article 3: COMMERCIAL PAPER (REPEALED)

Part 1: SHORT TITLE, FORM AND INTERPRETATION

11 §3-101. Short title (REPEALED) - §3-101. Short title (REPEALED) SECTION HISTORY PL 1993, c. 293,...

11 §3-102. Definitions and index of definitions (REPEALED) - §3-102. Definitions and index of definitions (REPEALED) SECTION HISTORY PL...

11 §3-103. Limitations on scope of Article (REPEALED) - §3-103. Limitations on scope of Article (REPEALED) SECTION HISTORY PL...

11 §3-104. Form of negotiable instruments; "draft"; "check"; "certificate of deposit"; "note" (REPEALED) - §3-104. Form of negotiable instruments; "draft"; "check"; "certificate of deposit";...

11 §3-104-A. Return of paid note required (REPEALED) - §3-104-A. Return of paid note required (REPEALED) SECTION HISTORY PL...

11 §3-105. When promise or order unconditional (REPEALED) - §3-105. When promise or order unconditional (REPEALED) SECTION HISTORY PL...

11 §3-106. Sum certain (REPEALED) - §3-106. Sum certain (REPEALED) SECTION HISTORY PL 1993, c. 293,...

11 §3-107. Money (REPEALED) - §3-107. Money (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

11 §3-108. Payable on demand (REPEALED) - §3-108. Payable on demand (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-109. Definite time (REPEALED) - §3-109. Definite time (REPEALED) SECTION HISTORY PL 1993, c. 293,...

11 §3-110. Payable to order (REPEALED) - §3-110. Payable to order (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-111. Payable to bearer (REPEALED) - §3-111. Payable to bearer (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-112. Terms and omissions not affecting negotiability (REPEALED) - §3-112. Terms and omissions not affecting negotiability (REPEALED) SECTION HISTORY...

11 §3-113. Seal (REPEALED) - §3-113. Seal (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

11 §3-114. Date, antedating, postdating (REPEALED) - §3-114. Date, antedating, postdating (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-115. Incomplete instruments (REPEALED) - §3-115. Incomplete instruments (REPEALED) SECTION HISTORY PL 1993, c. 293,...

11 §3-116. Instruments payable to 2 or more persons (REPEALED) - §3-116. Instruments payable to 2 or more persons (REPEALED) SECTION...

11 §3-117. Instruments payable with words of description (REPEALED) - §3-117. Instruments payable with words of description (REPEALED) SECTION HISTORY...

11 §3-118. Ambiguous terms and rules of construction (REPEALED) - §3-118. Ambiguous terms and rules of construction (REPEALED) SECTION HISTORY...

11 §3-119. Other writings affecting instrument (REPEALED) - §3-119. Other writings affecting instrument (REPEALED) SECTION HISTORY PL 1993,...

11 §3-120. Instruments "payable through" bank (REPEALED) - §3-120. Instruments "payable through" bank (REPEALED) SECTION HISTORY PL 1993,...

11 §3-121. Instruments payable at bank (REPEALED) - §3-121. Instruments payable at bank (REPEALED) SECTION HISTORY PL 1993,...

11 §3-122. Accrual of cause of action (REPEALED) - §3-122. Accrual of cause of action (REPEALED) SECTION HISTORY PL...

Part 2: TRANSFER AND NEGOTIATION

11 §3-201. Transfer: right to indorsement (REPEALED) - §3-201. Transfer: right to indorsement (REPEALED) SECTION HISTORY PL 1993,...

11 §3-202. Negotiation (REPEALED) - §3-202. Negotiation (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

11 §3-203. Wrong or misspelled name (REPEALED) - §3-203. Wrong or misspelled name (REPEALED) SECTION HISTORY PL 1993,...

11 §3-204. Special indorsement; blank indorsement (REPEALED) - §3-204. Special indorsement; blank indorsement (REPEALED) SECTION HISTORY PL 1993,...

11 §3-205. Restrictive indorsements (REPEALED) - §3-205. Restrictive indorsements (REPEALED) SECTION HISTORY PL 1993, c. 293,...

11 §3-206. Effect of restrictive indorsement (REPEALED) - §3-206. Effect of restrictive indorsement (REPEALED) SECTION HISTORY PL 1993,...

11 §3-207. Negotiation effective although it may be rescinded (REPEALED) - §3-207. Negotiation effective although it may be rescinded (REPEALED) SECTION...

11 §3-208. Reacquisition (REPEALED) - §3-208. Reacquisition (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

Part 3: RIGHTS OF A HOLDER

11 §3-301. Rights of a holder (REPEALED) - §3-301. Rights of a holder (REPEALED) SECTION HISTORY PL 1993,...

11 §3-302. Holder in due course (REPEALED) - §3-302. Holder in due course (REPEALED) SECTION HISTORY PL 1971,...

11 §3-303. Taking for value (REPEALED) - §3-303. Taking for value (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-304. Notice to purchaser (REPEALED) - §3-304. Notice to purchaser (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-305. Rights of a holder in due course (REPEALED) - §3-305. Rights of a holder in due course (REPEALED) SECTION...

11 §3-306. Rights of one not holder in due course (REPEALED) - §3-306. Rights of one not holder in due course (REPEALED)...

11 §3-307. Burden of establishing signatures, defenses and due course (REPEALED) - §3-307. Burden of establishing signatures, defenses and due course (REPEALED)...

Part 4: LIABILITY OF PARTIES

11 §3-401. Signature (REPEALED) - §3-401. Signature (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

11 §3-402. Signature in ambiguous capacity (REPEALED) - §3-402. Signature in ambiguous capacity (REPEALED) SECTION HISTORY PL 1993,...

11 §3-403. Signature by authorized representative (REPEALED) - §3-403. Signature by authorized representative (REPEALED) SECTION HISTORY PL 1993,...

11 §3-404. Unauthorized signatures (REPEALED) - §3-404. Unauthorized signatures (REPEALED) SECTION HISTORY PL 1993, c. 293,...

11 §3-405. Impostors; signature in name of payee (REPEALED) - §3-405. Impostors; signature in name of payee (REPEALED) SECTION HISTORY...

11 §3-406. Negligence contributing to alteration or unauthorized signature (REPEALED) - §3-406. Negligence contributing to alteration or unauthorized signature (REPEALED) SECTION...

11 §3-407. Alteration (REPEALED) - §3-407. Alteration (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

11 §3-408. Consideration (REPEALED) - §3-408. Consideration (REPEALED) SECTION HISTORY PL 1993, c. 293, §A1...

11 §3-409. Draft not an assignment (REPEALED) - §3-409. Draft not an assignment (REPEALED) SECTION HISTORY PL 1993,...

11 §3-410. Definition and operation of acceptance (REPEALED) - §3-410. Definition and operation of acceptance (REPEALED) SECTION HISTORY PL...

11 §3-411. Certification of a check (REPEALED) - §3-411. Certification of a check (REPEALED) SECTION HISTORY PL 1993,...

11 §3-412. Acceptance varying draft (REPEALED) - §3-412. Acceptance varying draft (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-413. Contract of maker, drawer and acceptor (REPEALED) - §3-413. Contract of maker, drawer and acceptor (REPEALED) SECTION HISTORY...

11 §3-414. Contract of indorser; order of liability (REPEALED) - §3-414. Contract of indorser; order of liability (REPEALED) SECTION HISTORY...

11 §3-415. Contract of accommodation party (REPEALED) - §3-415. Contract of accommodation party (REPEALED) SECTION HISTORY PL 1993,...

11 §3-416. Contract of guarantor (REPEALED) - §3-416. Contract of guarantor (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-417. Warranties on presentment and transfer (REPEALED) - §3-417. Warranties on presentment and transfer (REPEALED) SECTION HISTORY PL...

11 §3-418. Finality of payment or acceptance (REPEALED) - §3-418. Finality of payment or acceptance (REPEALED) SECTION HISTORY PL...

11 §3-419. Conversion of instrument; innocent representative (REPEALED) - §3-419. Conversion of instrument; innocent representative (REPEALED) SECTION HISTORY PL...

Part 5: PRESENTMENT, NOTICE OF DISHONOR AND PROTEST

11 §3-501. When presentment, notice of dishonor and protest necessary or permissible (REPEALED) - §3-501. When presentment, notice of dishonor and protest necessary or...

11 §3-502. Unexcused delay; discharge (REPEALED) - §3-502. Unexcused delay; discharge (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-503. Time of presentment (REPEALED) - §3-503. Time of presentment (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-504. How presentment made (REPEALED) - §3-504. How presentment made (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-505. Rights of party to whom presentment is made (REPEALED) - §3-505. Rights of party to whom presentment is made (REPEALED)...

11 §3-506. Time allowed for acceptance or payment (REPEALED) - §3-506. Time allowed for acceptance or payment (REPEALED) SECTION HISTORY...

11 §3-507. Dishonor; holder's right of recourse; term allowing representment (REPEALED) - §3-507. Dishonor; holder's right of recourse; term allowing representment (REPEALED)...

11 §3-508. Notice of dishonor (REPEALED) - §3-508. Notice of dishonor (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-509. Protest; noting for protest (REPEALED) - §3-509. Protest; noting for protest (REPEALED) SECTION HISTORY PL 1979,...

11 §3-510. Evidence of dishonor and notice of dishonor (REPEALED) - §3-510. Evidence of dishonor and notice of dishonor (REPEALED) SECTION...

11 §3-511. Waived or excused presentment, protest or notice of dishonor or delay therein (REPEALED) - §3-511. Waived or excused presentment, protest or notice of dishonor...

Part 6: DISCHARGE

11 §3-601. Discharge of parties (REPEALED) - §3-601. Discharge of parties (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-602. Effect of discharge against holder in due course (REPEALED) - §3-602. Effect of discharge against holder in due course (REPEALED)...

11 §3-603. Payment or satisfaction (REPEALED) - §3-603. Payment or satisfaction (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-604. Tender of payment (REPEALED) - §3-604. Tender of payment (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-605. Cancellation and renunciation (REPEALED) - §3-605. Cancellation and renunciation (REPEALED) SECTION HISTORY PL 1993, c....

11 §3-606. Impairment of recourse or of collateral (REPEALED) - §3-606. Impairment of recourse or of collateral (REPEALED) SECTION HISTORY...

Part 7: ADVICE OF INTERNATIONAL SIGHT DRAFT

11 §3-701. Letter of advice of international sight draft (REPEALED) - §3-701. Letter of advice of international sight draft (REPEALED) SECTION...

Part 8: MISCELLANEOUS

11 §3-801. Drafts in a set (REPEALED) - §3-801. Drafts in a set (REPEALED) SECTION HISTORY PL 1965,...

11 §3-802. Effect of instrument on obligation for which it is given (REPEALED) - §3-802. Effect of instrument on obligation for which it is...

11 §3-803. Notice to third party (REPEALED) - §3-803. Notice to third party (REPEALED) SECTION HISTORY PL 1965,...

11 §3-804. Lost, destroyed or stolen instruments (REPEALED) - §3-804. Lost, destroyed or stolen instruments (REPEALED) SECTION HISTORY PL...

11 §3-805. Instruments not payable to order or to bearer (REPEALED) - §3-805. Instruments not payable to order or to bearer (REPEALED)...

Article 3-A: NEGOTIABLE INSTRUMENTS

Part 1: GENERAL PROVISIONS AND DEFINITIONS

11 §3-1101. Short title - §3-1101. Short title This Article is known and may be...

11 §3-1102. Subject matter - §3-1102. Subject matter (1). This Article applies to negotiable instruments....

11 §3-1103. Definitions - §3-1103. Definitions (1). In this Article, unless the context indicates...

11 §3-1104. Negotiable instrument - §3-1104. Negotiable instrument (1). Except as provided in subsections (3)...

11 §3-1105. Issue of instrument - §3-1105. Issue of instrument (1). "Issue" means the first delivery...

11 §3-1106. Unconditional promise or order - §3-1106. Unconditional promise or order (1). Except as provided in...

11 §3-1107. Instrument payable in foreign money - §3-1107. Instrument payable in foreign money Unless the instrument otherwise...

11 §3-1108. Payable on demand or at definite time - §3-1108. Payable on demand or at definite time (1). A...

11 §3-1109. Payable to bearer or to order - §3-1109. Payable to bearer or to order (1). A promise...

11 §3-1110. Identification of person to whom instrument is payable - §3-1110. Identification of person to whom instrument is payable (1)....

11 §3-1111. Place of payment - §3-1111. Place of payment Except as otherwise provided for items...

11 §3-1112. Interest - §3-1112. Interest (1). Unless otherwise provided in the instrument: (a)....

11 §3-1113. Date of instrument - §3-1113. Date of instrument (1). An instrument may be antedated...

11 §3-1114. Contradictory terms of instrument - §3-1114. Contradictory terms of instrument If an instrument contains contradictory...

11 §3-1115. Incomplete instrument - §3-1115. Incomplete instrument (1). "Incomplete instrument" means a signed writing,...

11 §3-1116. Joint and several liability; contribution - §3-1116. Joint and several liability; contribution (1). Except as otherwise...

11 §3-1117. Other agreements affecting instrument - §3-1117. Other agreements affecting instrument Subject to applicable law regarding...

11 §3-1118. Statute of limitations - §3-1118. Statute of limitations (1). Except as provided in subsection...

11 §3-1119. Notice of right to defend action - §3-1119. Notice of right to defend action In an action...

Part 2: NEGOTIATION, TRANSFER AND INDORSEMENT

11 §3-1201. Negotiation - §3-1201. Negotiation (1). "Negotiation" means a transfer of possession, whether...

11 §3-1202. Negotiation subject to rescission - §3-1202. Negotiation subject to rescission (1). Negotiation is effective even...

11 §3-1203. Transfer of instrument; rights acquired by transfer - §3-1203. Transfer of instrument; rights acquired by transfer (1). An...

11 §3-1204. Indorsement - §3-1204. Indorsement (1). "Indorsement" means a signature, other than that...

11 §3-1205. Special indorsement; blank indorsement; anomalous indorsement - §3-1205. Special indorsement; blank indorsement; anomalous indorsement (1). If an...

11 §3-1206. Restrictive indorsement - §3-1206. Restrictive indorsement (1). An indorsement limiting payment to a...

11 §3-1207. Reacquisition - §3-1207. Reacquisition Reacquisition of an instrument occurs if it is...

Part 3: ENFORCEMENT OF INSTRUMENTS

11 §3-1301. Person entitled to enforce instrument - §3-1301. Person entitled to enforce instrument "Person entitled to enforce"...

11 §3-1302. Holder in due course - §3-1302. Holder in due course (1). Subject to subsection (3)...

11 §3-1303. Value and consideration - §3-1303. Value and consideration (1). An instrument is issued or...

11 §3-1304. Overdue instrument - §3-1304. Overdue instrument (1). An instrument payable on demand becomes...

11 §3-1305. Defenses and claims in recoupment - §3-1305. Defenses and claims in recoupment (1). Except as stated...

11 §3-1306. Claims to an instrument - §3-1306. Claims to an instrument A person taking an instrument,...

11 §3-1307. Notice of breach of fiduciary duty - §3-1307. Notice of breach of fiduciary duty (1). In this...

11 §3-1308. Proof of signatures and status as holder in due course - §3-1308. Proof of signatures and status as holder in due...

11 §3-1309. Enforcement of lost, destroyed or stolen instrument - §3-1309. Enforcement of lost, destroyed or stolen instrument (1). A...

11 §3-1310. Effect of instrument on obligation for which taken - §3-1310. Effect of instrument on obligation for which taken (1)....

11 §3-1311. Accord and satisfaction by use of instrument - §3-1311. Accord and satisfaction by use of instrument (1). Subsections...

11 §3-1312. Lost, destroyed, or stolen cashier's check, teller's check, or certified check - §3-1312. Lost, destroyed, or stolen cashier's check, teller's check, or...

Part 4: LIABILITY OF PARTIES

11 §3-1401. Signature - §3-1401. Signature (1). A person is not liable on an...

11 §3-1402. Signature by representative - §3-1402. Signature by representative (1). If a person acting, or...

11 §3-1403. Unauthorized signature - §3-1403. Unauthorized signature (1). Unless otherwise provided in this Article...

11 §3-1404. Impostors; fictitious payees - §3-1404. Impostors; fictitious payees (1). If an impostor by use...

11 §3-1405. Employer's responsibility for fraudulent indorsement by employee - §3-1405. Employer's responsibility for fraudulent indorsement by employee (1). In...

11 §3-1406. Negligence contributing to forged signature or alteration of instrument - §3-1406. Negligence contributing to forged signature or alteration of instrument...

11 §3-1407. Alteration - §3-1407. Alteration (1). "Alteration" means: (a). An unauthorized change in...

11 §3-1408. Drawee not liable on unaccepted draft - §3-1408. Drawee not liable on unaccepted draft A check or...

11 §3-1409. Acceptance of draft; certified check - §3-1409. Acceptance of draft; certified check (1). "Acceptance" means the...

11 §3-1410. Acceptance varying draft - §3-1410. Acceptance varying draft (1). If the terms of a...

11 §3-1411. Refusal to pay cashier's checks, teller's checks and certified checks - §3-1411. Refusal to pay cashier's checks, teller's checks and certified...

11 §3-1412. Obligation of issuer of note or cashier's check - §3-1412. Obligation of issuer of note or cashier's check The...

11 §3-1413. Obligation of acceptor - §3-1413. Obligation of acceptor (1). The acceptor of a draft...

11 §3-1414. Obligation of drawer - §3-1414. Obligation of drawer (1). This section does not apply...

11 §3-1415. Obligation of indorser - §3-1415. Obligation of indorser (1). Subject to subsections (2), (3),...

11 §3-1416. Transfer warranties - §3-1416. Transfer warranties (1). A person who transfers an instrument...

11 §3-1417. Presentment warranties - §3-1417. Presentment warranties (1). If an unaccepted draft is presented...

11 §3-1418. Payment or acceptance by mistake - §3-1418. Payment or acceptance by mistake (1). Except as provided...

11 §3-1419. Instruments signed for accommodation - §3-1419. Instruments signed for accommodation (1). If an instrument is...

11 §3-1420. Conversion of instrument - §3-1420. Conversion of instrument (1). The law applicable to conversion...

Part 5: DISHONOR

11 §3-1501. Presentment - §3-1501. Presentment (1). "Presentment" means a demand made by or...

11 §3-1502. Dishonor - §3-1502. Dishonor (1). Dishonor of a note is governed by...

11 §3-1503. Notice of dishonor - §3-1503. Notice of dishonor (1). The obligation of an indorser...

11 §3-1504. Excused presentment and notice of dishonor - §3-1504. Excused presentment and notice of dishonor (1). Presentment for...

11 §3-1505. Evidence of dishonor - §3-1505. Evidence of dishonor (1). The following are admissible as...

Part 6: DISCHARGE AND PAYMENT

11 §3-1601. Discharge and effect of discharge - §3-1601. Discharge and effect of discharge (1). The obligation of...

11 §3-1602. Payment - §3-1602. Payment (1). Subject to subsection (2), an instrument is...

11 §3-1603. Tender of payment - §3-1603. Tender of payment (1). If tender of payment of...

11 §3-1604. Discharge by cancellation or renunciation - §3-1604. Discharge by cancellation or renunciation (1). A person entitled...

11 §3-1605. Discharge of indorsers and accommodation parties - §3-1605. Discharge of indorsers and accommodation parties (1). In this...

Article 4: BANK DEPOSITS AND COLLECTIONS

Part 1: GENERAL PROVISIONS AND DEFINITIONS

11 §4-101. Short title - §4-101. Short title This Article may be cited as "Uniform...

11 §4-102. Applicability - §4-102. Applicability (1). To the extent that items within this...

11 §4-103. Variation by agreement; measure of damages; action constituting ordinary care - §4-103. Variation by agreement; measure of damages; action constituting ordinary...

11 §4-104. Definitions and index of definitions - §4-104. Definitions and index of definitions (1). In this Article,...

11 §4-105. "Depositary bank"; "bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank" - §4-105. "Depositary bank"; "bank"; "payor bank"; "intermediary bank"; "collecting bank";...

11 §4-105-A. Payable through or payable at bank; collecting bank - §4-105-A. Payable through or payable at bank; collecting bank (1)....

11 §4-106. Separate office of a bank - §4-106. Separate office of a bank A branch or separate...

11 §4-107. Time of receipt of items - §4-107. Time of receipt of items (1). For the purpose...

11 §4-108. Delays - §4-108. Delays (1). Unless otherwise instructed, a collecting bank in...

11 §4-109. Process of posting (REPEALED) - §4-109. Process of posting (REPEALED) SECTION HISTORY PL 1993, c....

11 §4-110. Electronic presentment - §4-110. Electronic presentment (1). "Agreement for electronic presentment" means an...

11 §4-111. Statute of limitations - §4-111. Statute of limitations An action to enforce an obligation,...

Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS

11 §4-201. Status of collecting bank as agent and provisional status of credits; applicability of Article; item indorsed "pay any bank" - §4-201. Status of collecting bank as agent and provisional status...

11 §4-202. Responsibility for collection or return; when action timely - §4-202. Responsibility for collection or return; when action timely (1)....

11 §4-203. Effect of instructions - §4-203. Effect of instructions Subject to Article 3‑A concerning conversion...

11 §4-204. Methods of sending and presenting; sending directly to payor bank - §4-204. Methods of sending and presenting; sending directly to payor...

11 §4-205. Depositary bank holder of unindorsed item - §4-205. Depositary bank holder of unindorsed item If a customer...

11 §4-206. Transfer between banks - §4-206. Transfer between banks Any agreed method that identifies the...

11 §4-207. Warranties of customer and collecting bank on transfer or presentment of items; time for claims (REPEALED) - §4-207. Warranties of customer and collecting bank on transfer or...

11 §4-207-A. Transfer warranties - §4-207-A. Transfer warranties (1). A customer or collecting bank that...

11 §4-207-B. Presentment warranties - §4-207-B. Presentment warranties (1). If an unaccepted draft is presented...

11 §4-207-C. Encoding and retention warranties - §4-207-C. Encoding and retention warranties (1). A person who encodes...

11 §4-208. Security interest of collecting bank in items, accompanying documents and proceeds - §4-208. Security interest of collecting bank in items, accompanying documents...

11 §4-209. When bank gives value for purposes of holder in due course - §4-209. When bank gives value for purposes of holder in...

11 §4-210. Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser - §4-210. Presentment by notice of item not payable by, through...

11 §4-211. Media of remittance; provisional and final settlement in remittance cases (REPEALED) - §4-211. Media of remittance; provisional and final settlement in remittance...

11 §4-211-A. Medium and time of settlement by bank - §4-211-A. Medium and time of settlement by bank (1). With...

11 §4-212. Right of charge-back or refund; liability of collecting bank; return of item - §4-212. Right of charge-back or refund; liability of collecting bank;...

11 §4-213. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal - §4-213. Final payment of item by payor bank; when provisional...

11 §4-214. Insolvency and preference - §4-214. Insolvency and preference (1). If an item is in...

Part 3: COLLECTION OF ITEMS: PAYOR BANKS

11 §4-301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank - §4-301. Deferred posting; recovery of payment by return of items;...

11 §4-302. Payor bank's responsibility for late return of item - §4-302. Payor bank's responsibility for late return of item (1)....

11 §4-303. When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified - §4-303. When items subject to notice, stop-payment order, legal process...

Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

11 §4-401. When bank may charge customer's account - §4-401. When bank may charge customer's account (1). A bank...

11 §4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account - §4-402. Bank's liability to customer for wrongful dishonor; time of...

11 §4-403. Customer's right to stop payment; burden of proof of loss - §4-403. Customer's right to stop payment; burden of proof of...

11 §4-404. Bank not obligated to pay check more than 6 months old - §4-404. Bank not obligated to pay check more than 6...

11 §4-405. Death or incompetence of customer - §4-405. Death or incompetence of customer (1). A payor or...

11 §4-406. Customer's duty to discover and report unauthorized signature or alteration - §4-406. Customer's duty to discover and report unauthorized signature or...

11 §4-407. Payor bank's right to subrogation on improper payment - §4-407. Payor bank's right to subrogation on improper payment If...

Part 5: COLLECTION OF DOCUMENTARY DRAFTS

11 §4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor - §4-501. Handling of documentary drafts; duty to send for presentment...

11 §4-502. Presentment of "on arrival" drafts - §4-502. Presentment of "on arrival" drafts If a draft or...

11 §4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need - §4-503. Responsibility of presenting bank for documents and goods; report...

11 §4-504. Privilege of presenting bank to deal with goods; security interest for expenses - §4-504. Privilege of presenting bank to deal with goods; security...

Article 4-A: FUNDS TRANSFERS

Part 1: SUBJECT MATTER AND DEFINITIONS

11 §4-1101. Short title - §4-1101. Short title This Article is known and may be...

11 §4-1102. Subject matter - §4-1102. Subject matter Except as otherwise provided in section 4-1109,...

11 §4-1103. Payment order; definitions - §4-1103. Payment order; definitions (1). In this Article: (a). "Payment...

11 §4-1104. Funds transfer; definitions - §4-1104. Funds transfer; definitions In this Article: (1). "Funds transfer"...

11 §4-1105. Other definitions - §4-1105. Other definitions (1). In this Article: (a). "Authorized account"...

11 §4-1106. Time payment order received - §4-1106. Time payment order received (1). The time of receipt...

11 §4-1107. Federal reserve regulations and operating circulars - §4-1107. Federal reserve regulations and operating circulars Regulations of the...

11 §4-1108. Exclusion of consumer transactions governed by federal law (REPEALED) - §4-1108. Exclusion of consumer transactions governed by federal law (REPEALED)...

11 §4-1109. Relationship to federal Electronic Fund Transfer Act - §4-1109. Relationship to federal Electronic Fund Transfer Act (1). Except...

Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER

11 §4-1201. Security procedure - §4-1201. Security procedure "Security procedure" means a procedure established by...

11 §4-1202. Authorized and verified payment orders - §4-1202. Authorized and verified payment orders (1). A payment order...

11 §4-1203. Unenforceability of certain verified payment orders - §4-1203. Unenforceability of certain verified payment orders (1). If an...

11 §4-1204. Refund of payment and duty of customer to report with respect to unauthorized payment order - §4-1204. Refund of payment and duty of customer to report...

11 §4-1205. Erroneous payment orders - §4-1205. Erroneous payment orders (1). If an accepted payment order...

11 §4-1206. Transmission of payment order through funds transfer or other communication system - §4-1206. Transmission of payment order through funds transfer or other...

11 §4-1207. Misdescription of beneficiary - §4-1207. Misdescription of beneficiary (1). Subject to subsection (2), if,...

11 §4-1208. Misdescription of intermediary bank or beneficiary's bank - §4-1208. Misdescription of intermediary bank or beneficiary's bank (1). This...

11 §4-1209. Acceptance of payment order - §4-1209. Acceptance of payment order (1). Subject to subsection (4),...

11 §4-1210. Rejection of payment order - §4-1210. Rejection of payment order (1). A payment order is...

11 §4-1211. Cancellation and amendment of payment order - §4-1211. Cancellation and amendment of payment order (1). A communication...

11 §4-1212. Liability and duty of receiving bank regarding unaccepted payment order - §4-1212. Liability and duty of receiving bank regarding unaccepted payment...

Part 3: EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK

11 §4-1301. Execution and execution date - §4-1301. Execution and execution date (1). A payment order is...

11 §4-1302. Obligations of receiving bank in execution of payment order - §4-1302. Obligations of receiving bank in execution of payment order...

11 §4-1303. Erroneous execution of payment order - §4-1303. Erroneous execution of payment order (1). A receiving bank...

11 §4-1304. Duty of sender to report erroneously executed payment order - §4-1304. Duty of sender to report erroneously executed payment order...

11 §4-1305. Liability for late or improper execution or failure to execute payment order - §4-1305. Liability for late or improper execution or failure to...

Part 4: PAYMENT

11 §4-1401. Payment date - §4-1401. Payment date "Payment date" of a payment order means...

11 §4-1402. Obligation of sender to pay receiving bank - §4-1402. Obligation of sender to pay receiving bank (1). This...

11 §4-1403. Payment by sender to receiving bank - §4-1403. Payment by sender to receiving bank (1). Payment of...

11 §4-1404. Obligation of beneficiary's bank to pay and give notice to beneficiary - §4-1404. Obligation of beneficiary's bank to pay and give notice...

11 §4-1405. Payment by beneficiary's bank to beneficiary - §4-1405. Payment by beneficiary's bank to beneficiary (1). If the...

11 §4-1406. Payment by originator to beneficiary; discharge of underlying obligation - §4-1406. Payment by originator to beneficiary; discharge of underlying obligation...

Part 5: MISCELLANEOUS PROVISIONS

11 §4-1501. Variation by agreement and effect of funds transfer system rule - §4-1501. Variation by agreement and effect of funds transfer system...

11 §4-1502. Creditor process served on receiving bank; setoff by beneficiary's bank - §4-1502. Creditor process served on receiving bank; setoff by beneficiary's...

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Maine Revised Statutes TITLE 11: UNIFORM COMMERCIAL CODE

Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE