MCL - Index of 174-1962-3
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| 174-1962-3 | ARTICLE 3 NEGOTIABLE INSTRUMENTS (440.3101...440.3805) |
| 174-1962-3-1 | PART 1 GENERAL PROVISIONS AND DEFINITIONS (440.3101...440.3122) |
| Section 440.3101 | Short title; article. |
| Section 440.3102 | Scope; limitations; conflict of laws. |
| Section 440.3103 | Definitions; principles of construction. |
| Section 440.3104 | Additional definitions. |
| Section 440.3105 | “Issue” and “issuer” defined; effect of unissued or conditionally issued instrument. |
| Section 440.3106 | Unconditional status of promise or order. |
| Section 440.3107 | Payment in foreign money. |
| Section 440.3108 | Instrument payable on demand, at definite time, or at fixed date. |
| Section 440.3109 | Promise or order; payable on demand; payable at definite time; instrument payable at fixed date. |
| Section 440.3110 | Determination of person payable; intent; signature by automated means; determining holder; instrument payable to 2 or more persons. |
| Section 440.3111 | Place of payment. |
| Section 440.3112 | Interest. |
| Section 440.3113 | Instrument antedated, postdated, or undated. |
| Section 440.3114 | Instrument; contradictory terms. |
| Section 440.3115 | Incomplete instrument; definition; enforcement; alteration; burden. |
| Section 440.3116 | Joint and several liability. |
| Section 440.3117 | Obligation modified, supplemented, or nullified by separate agreement. |
| Section 440.3118 | Action to enforce obligation; commencement; time period; other actions. |
| Section 440.3119 | Notice of litigation to answerable third party. |
| Section 440.3120-440.3122 | Repealed. 1993, Act 130, Eff. Sept. 30, 1993. |
| 174-1962-3-2 | PART 2 NEGOTIATION, TRANSFER, AND ENDORSEMENT (440.3201...440.3208) |
| Section 440.3201 | Negotiation; definition; transfer of possession. |
| Section 440.3202 | Negotiation; effective although subject to rescission or other remedies. |
| Section 440.3203 | Transfer of instrument; delivery; rights of transferee; effect of transfer of less than entire instrument. |
| Section 440.3204 | “Endorsement” and “endorser” defined; transfer of security interest effective as unqualified endorsement; instrument payable to name other than holder. |
| Section 440.3205 | Special endorsement; blank endorsement; conversion; “anomalous endorsement” defined. |
| Section 440.3206 | Endorsement; limitation; condition; words indicating collection by bank; endorsee as agent, trustee, or other fiduciary; purchaser as holder in due course; exception; defense. |
| Section 440.3207 | Instrument; reacquisition. |
| Section 440.3208 | Repealed. 1993, Act 130, Eff. Sept. 30, 1993. |
| 174-1962-3-3 | PART 3 ENFORCEMENT OF INSTRUMENTS (440.3301...440.3312) |
| Section 440.3301 | Instrument; person entitled to enforce. |
| Section 440.3302 | Holder in due course; notice of discharge as effective against holder; rights of holder; time and manner of notice; section subject to law limiting status. |
| Section 440.3303 | Instrument issued or transferred for value; consideration. |
| Section 440.3304 | Instruments payable on demand or payable at definite time as overdue; conditions. |
| Section 440.3305 | Right to enforce obligation; defenses or claims available; statement; section subject to other law. |
| Section 440.3306 | Instrument; person subject to claim of property or possessory right. |
| Section 440.3307 | Fiduciary duty; breach. |
| Section 440.3308 | Establishing validity of signature; burden; right to payment subject to defense or claim in recoupment; holder in due course not subject to defense or claim. |
| Section 440.3309 | Enforcement of instrument in which loss of possession occurred. |
| Section 440.3310 | Certified check, cashier's check, or teller's check; discharge; note or uncertified check; suspension of obligation; other instruments. |
| Section 440.3311 | Discharge; tender as full satisfaction of claim. |
| Section 440.3312 | Definitions; asserting claim to amount of check by communication to obligated bank; delivery of declaration of loss; claim asserted in compliance with subsection (2); duties of claimant if presentment by holder in due course; rights of claimant with respect to check. |
| 174-1962-3-4 | PART 4 LIABILITY OF PARTIES (440.3401...440.3420) |
| Section 440.3401 | Liability; signature. |
| Section 440.3402 | Liability of parties; signature by authorized representative. |
| Section 440.3403 | Unauthorized signature; effect. |
| Section 440.3404 | Imposter; inducing issuance of instrument; endorsement in name of payee; failure to exercise ordinary care. |
| Section 440.3405 | Definitions; fraudulent endorsement by employee or person acting in concert with employee. |
| Section 440.3406 | Failure to exercise ordinary care contributing to alteration or forged instrument; allocation of loss; burden of proof. |
| Section 440.3407 | Alteration; definition; discharge of party affected; enforcement of rights. |
| Section 440.3408 | Check or draft; operation as assignment. |
| Section 440.3409 | Acceptance of draft; definition; operation; “certified check” defined; refusal to certify. |
| Section 440.3410 | Acceptance varying from terms of draft. |
| Section 440.3411 | Obligated bank; definition; refusal to pay check; expenses or damages not recoverable. |
| Section 440.3412 | Note, cashier's check, or other draft; obligation of issuer to pay according to terms. |
| Section 440.3413 | Draft; obligation to pay according to terms; amount. |
| 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 payments after expiration of 30-day period. |
| Section 440.3415 | Dishonored instrument; obligation and liability of endorser. |
| Section 440.3416 | Transfer of instrument for consideration; endorsement; warranties. |
| Section 440.3417 | Presentment of unaccepted or dishonored draft; rights of parties. |
| Section 440.3418 | Payment or acceptance by mistake. |
| Section 440.3419 | Accommodation parties. |
| Section 440.3420 | Conversion. |
| 174-1962-3-5 | PART 5 DISHONOR (440.3501...440.3511) |
| Section 440.3501 | Presentment; definition; manner; rights of party to whom presentment is made. |
| Section 440.3502 | Notes and drafts; dishonor. |
| Section 440.3503 | Notice of dishonor; manner; sufficiency; time periods. |
| Section 440.3504 | Presentment, notice of dishonor, or delay in giving notice of dishonor; conditions for excuse. |
| Section 440.3505 | Admissible evidence creating presumption of dishonor; protest. |
| Section 440.3506-440.3511 | Repealed. 1993, Act 130, Eff. Sept. 30, 1993. |
| 174-1962-3-6 | PART 6 DISCHARGE AND PAYMENT (440.3601...440.3606) |
| Section 440.3601 | Discharge; effect against holder in due course. |
| Section 440.3602 | Discharge; payment; "signed" defined. |
| Section 440.3603 | Tender of payment; effect; refusal of tender as discharge; interest; obligor ready and able to pay on due date. |
| Section 440.3604 | Discharge by intentional voluntary act; canceling or striking out endorsement; "signed" defined. |
| Section 440.3605 | Secondary obligor; rights and duties; agreement to modification or to extend time when payments are due; obligation secured by interest in collateral; discharge; impairing value of interest in collateral; knowledge of accommodation; consent or waiver of discharge; release or extension; burden of persuasion; presumption. |
| Section 440.3606 | Repealed. 1993, Act 130, Eff. Sept. 30, 1993. |
| 174-1962-3-7 | PART 7 ADVICE OF INTERNATIONAL SIGHT DRAFT (440.3701...440.3701) |
| Section 440.3701 | Repealed. 1993, Act 130, Eff. Sept. 30, 1993. |
| 174-1962-3-8 | PART 8 MISCELLANEOUS (440.3801...440.3805) |
| Section 440.3801-440.3805 | Repealed. 1993, Act 130, Eff. Sept. 30, 1993. |