(a) as agent or officer of a specified person is payable to his
principal but the agent or officer may act as if he were the holder;
(b) as any other fiduciary for a specified person or purpose is
payable to the payee and may be negotiated, discharged or enforced by
him;
(c) in any other manner is payable to the payee unconditionally and
the additional words are without effect on subsequent parties.
Structure New York Laws
Part 1 - Short Title, Form and Interpretation
3-102 - Definitions and Index of Definitions.
3-103 - Limitations on Scope of Article.
3-104 - Form of Negotiable Instruments; "Draft"; "Check"; "Certificate of Deposit"; "Note".
3-105 - When Promise or Order Unconditional.
3-112 - Terms and Omissions Not Affecting Negotiability.
3-114 - Date, Antedating, Postdating.
3-115 - Incomplete Instruments.
3-116 - Instruments Payable to Two or More Persons.
3-117 - Instruments Payable With Words of Description.
3-118 - Ambiguous Terms and Rules of Construction.
3-119 - Other Writings Affecting Instrument.
3-120 - Instruments "Payable Through" Bank.