Michigan Compiled Laws
Article 3 - Negotiable Instruments (440.3101...440.3805)
174-1962-3-4 - Part 4 Liability of Parties (440.3401...440.3420)

Section 440.3401 - Liability; Signature. - Sec. 3401. (1) A person is not liable on an...

Section 440.3402 - Liability of Parties; Signature by Authorized Representative. - Sec. 3402. (1) If a person acting, or purporting to...

Section 440.3403 - Unauthorized Signature; Effect. - Sec. 3403. (1) Unless otherwise provided in this article or...

Section 440.3404 - Imposter; Inducing Issuance of Instrument; Endorsement in Name of Payee; Failure to Exercise Ordinary Care. - Sec. 3404. (1) If an imposter, by use of the...

Section 440.3405 - Definitions; Fraudulent Endorsement by Employee or Person Acting in Concert With Employee. - Sec. 3405. (1) As used in this section: (a) "Employee"...

Section 440.3406 - Failure to Exercise Ordinary Care Contributing to Alteration or Forged Instrument; Allocation of Loss; Burden of Proof. - Sec. 3406. (1) A person whose failure to exercise ordinary...

Section 440.3407 - Alteration; Definition; Discharge of Party Affected; Enforcement of Rights. - Sec. 3407. (1) "Alteration" means (i) an unauthorized change in...

Section 440.3408 - Check or Draft; Operation as Assignment. - Sec. 3408. A check or other draft does not of...

Section 440.3409 - Acceptance of Draft; Definition; Operation; “Certified Check” Defined; Refusal to Certify. - Sec. 3409. (1) "Acceptance" means the drawee's signed agreement to...

Section 440.3410 - Acceptance Varying From Terms of Draft. - Sec. 3410. (1) If the terms of a drawee's acceptance...

Section 440.3411 - Obligated Bank; Definition; Refusal to Pay Check; Expenses or Damages Not Recoverable. - Sec. 3411. (1) As used in this section, "obligated bank"...

Section 440.3412 - Note, Cashier's Check, or Other Draft; Obligation of Issuer to Pay According to Terms. - Sec. 3412. The issuer of a note or cashier's check...

Section 440.3413 - Draft; Obligation to Pay According to Terms; Amount. - Sec. 3413. (1) The acceptor of a draft is obliged...

Section 440.3414 - Applicability of Section; Unaccepted Draft; Dishonor; Payment According to Terms; Acceptance by Bank; Discharge of Drawer; Obligation of Drawer if Acceptor Not Bank and Draft Dishonored; Disclaimer of Liability; Suspension of Payme... - Sec. 3414. (1) This section does not apply to cashier's...

Section 440.3415 - Dishonored Instrument; Obligation and Liability of Endorser. - Sec. 3415. (1) Subject to subsections (2), (3), (4), and...

Section 440.3416 - Transfer of Instrument for Consideration; Endorsement; Warranties. - Sec. 3416. (1) A person who transfers an instrument for...

Section 440.3417 - Presentment of Unaccepted or Dishonored Draft; Rights of Parties. - Sec. 3417. (1) If an unaccepted draft is presented to...

Section 440.3418 - Payment or Acceptance by Mistake. - Sec. 3418. (1) Except as provided in subsection (3), if...

Section 440.3419 - Accommodation Parties. - Sec. 3419. (1) If an instrument is issued for value...

Section 440.3420 - Conversion. - Sec. 3420. (1) The law applicable to conversion of personal...