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Commercial Code - COM - COM § 11405

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11405

(a) If the beneficiary’s bank credits an account of the beneficiary of a payment order, payment of the bank’s obligation under subdivision (a) of Section 11404 occurs when and to the extent (i) the beneficiary is notified of the right to withdraw the credit, (ii) the bank lawfull

Commercial Code - COM - COM § 11406

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11406

(a) Subject to subdivision (e) of Section 11211 and subdivisions (d) and (e) of Section 11405, the originator of a funds transfer pays the beneficiary of the originator’s payment order (i) at the time a payment order for the benefit of the beneficiary is accepted by the beneficia

Commercial Code - COM - COM § 11501

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11501

(a) Except as otherwise provided in this division, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party. (b) “Funds-transfer system rule” means a rule of an association of banks (i) governing transmission of payment orders by

Commercial Code - COM - COM § 11502

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11502

(a) As used in this section, “creditor process” means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account. (b) This subdivision applies to creditor process with respect

Commercial Code - COM - COM § 11503

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11503

For proper cause and in compliance with applicable law, a court may restrain (i) a person from issuing a payment order to initiate a funds transfer, (ii) an originator’s bank from executing the payment order of the originator, or (iii) the beneficiary’s bank from releasing funds

Commercial Code - COM - COM § 11504

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11504

(a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender’s account, the bank may charge the sender’s account with respect to the various orders and items in any sequence. (b) In d

Commercial Code - COM - COM § 11505

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11505

If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that

Commercial Code - COM - COM § 11506

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11506

(a) If, under this division, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined (i) by agreement of the sender and receiving bank, or (ii) by a funds-transfer system rule if the payment order is tra

Commercial Code - COM - COM § 11507

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 11507

(a) The following rules apply unless the affected parties otherwise agree or subdivision (c) applies: (1) The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in which the receiving bank is located. (2

Commercial Code - COM - COM § 1201

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1201

(a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other divisions of this code that apply to particular divisions or chapters thereof, have the meanings stated. (b) Subject to definitions contained i

Commercial Code - COM - COM § 1202

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1202

(a) Subject to subdivision (f), a person has “notice” of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has reason to know that it exis

Commercial Code - COM - COM § 1203

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1203

(a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case. (b) A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay the lessor for the right to possessio

Commercial Code - COM - COM § 1204

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1204

Except as otherwise provided in Divisions 3, 4, 5, 6, and 12, a person gives value for rights if the person acquires them: (1) in return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a

Commercial Code - COM - COM § 1205

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1205

(a) Whether a time for taking an action required by this code is reasonable depends on the nature, purpose, and circumstances of the action. (b) An action is taken “seasonably” if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.

Commercial Code - COM - COM § 1206

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1206

Whenever this code creates a “presumption” with respect to a fact, or provides that a fact is “presumed,” the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence.

Commercial Code - COM - COM § 12101

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12101

This division may be cited as Uniform Commercial Code—Controllable Electronic Records.

Commercial Code - COM - COM § 12102

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12102

(a) In this division, the following definitions apply: (1) “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under Section 12105. The term does not include a controllable account, a controllable payment intangible, a d

Commercial Code - COM - COM § 12103

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12103

(a) If there is conflict between this division and Division 9 (commencing with Section 9101), Division 9 governs. (b) A transaction subject to this division is subject to all of the following: (1) Any applicable rule of law that establishes a different rule for consumers. (2) Any

Commercial Code - COM - COM § 12104

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12104

(a) This section applies to the acquisition and purchase of rights in a controllable account or controllable payment intangible, including the rights and benefits under subdivisions (c), (d), (e), (g), and (h) of a purchaser and qualifying purchaser, in the same manner this secti

Commercial Code - COM - COM § 12105

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12105

(a) A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record, or a system in which the electronic record is recorded, satisfies each of the following conditions: (1) It gives the per

Commercial Code - COM - COM § 12106

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12106

(a) An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying either of the following: (1) The person having control of the controllable electronic record that evidences the controllable account or controllable payment i

Commercial Code - COM - COM § 12107

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 12107

(a) Except as provided in subdivision (b), the local law of a controllable electronic record’s jurisdiction governs a matter covered by this division. (b) For a controllable electronic record that evidences a controllable account or controllable payment intangible, the local law

Commercial Code - COM - COM § 1301

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1301

(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation, the parties may agree that the law either of this state or of the other state or nation shall govern their rights and duties. (b) In

Commercial Code - COM - COM § 1302

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1302

(a) Except as otherwise provided in subdivision (b) or elsewhere in this code, the effect of provisions of this code may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by this code may not be disclaimed by agreement. The

Commercial Code - COM - COM § 1303

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 1303

(a) A “course of performance” is a sequence of conduct between the parties to a particular transaction that exists if: (1) the agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) the other party, with knowledge