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Commercial Code - COM - COM § 3112

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3112

(a) Unless otherwise provided in the instrument, (1) an instrument is not payable with interest, and (2) interest on an interest-bearing instrument is payable from the date of the instrument. (b) Interest may be stated in an instrument as a fixed or variable amount of money or it

Commercial Code - COM - COM § 3113

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3113

(a) An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after date. Except as provided in subdivision (c) of Section 4401, an instrument payable on demand is not payable before the date of the

Commercial Code - COM - COM § 3114

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3114

If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers.

Commercial Code - COM - COM § 3115

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3115

(a) ‛Incomplete instrument‛ means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers. (b) Subject to subdivision (c), if

Commercial Code - COM - COM § 3116

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3116

(a) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors, indorsers who indorse as joint payees, or anomalous indorsers are jointly and severally liable in the capacity in which they sign. (

Commercial Code - COM - COM § 3117

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3117

Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay the instrument may be modified, supplemented, or nullified by a separate agreement of the obligor and a person entitled to enforce t

Commercial Code - COM - COM § 3118

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3118

(a) Except as provided in subdivision (e), an action to enforce the obligation of a party to pay a note payable at a definite time shall be commenced within six years after the due date or dates stated in the note or, if a due date is accelerated, within six years after the accel

Commercial Code - COM - COM § 3119

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3119

In an action for breach of an obligation for which a third person is answerable over pursuant to this division or Division 4 (commencing with Section 4101), the defendant may give the third person written notice of the litigation, and the person notified may then give similar not

Commercial Code - COM - COM § 3201

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3201

(a) “Negotiation” means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person who thereby becomes its holder. (b) Except for negotiation by a remitter, if an instrument is payable to an identified person, negoti

Commercial Code - COM - COM § 3202

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3202

(a) Negotiation is effective even if obtained (1) from an infant, a corporation exceeding its powers, or a person without capacity, (2) by fraud, duress, or mistake, or (3) in breach of duty or as part of an illegal transaction. (b) To the extent permitted by other law, negotiati

Commercial Code - COM - COM § 3203

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3203

(a) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery the right to enforce the instrument. (b) Transfer of an instrument, whether or not the transfer is a negotiation, vests in the transf

Commercial Code - COM - COM § 3204

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3204

(a) “Indorsement” means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on an instrument for the purpose of (1) negotiating the instrument, (2) restricting payment of the instrument, or (3) incurring indorse

Commercial Code - COM - COM § 3205

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3205

(a) If an indorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the indorsement identifies a person to whom it makes the instrument payable, it is a “special indorsement.” When specially indorsed, an instrument becom

Commercial Code - COM - COM § 3206

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3206

(a) An indorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not effective to prevent further transfer or negotiation of the instrument. (b) An indorsement stating a condition to the right of the indorsee

Commercial Code - COM - COM § 3207

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3207

Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument may cancel indorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the inst

Commercial Code - COM - COM § 3301

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3301

“Person entitled to enforce” an instrument means (a) the holder of the instrument, (b) a nonholder in possession of the instrument who has the rights of a holder, or (c) a person not in possession of the instrument who is entitled to enforce the instrument pursuant to Section 330

Commercial Code - COM - COM § 3302

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3302

(a) Subject to subdivision (c) and subdivision (d) of Section 3106, “holder in due course” means the holder of an instrument if both of the following apply: (1) The instrument when issued or negotiated to the holder does not bear such apparent evidence of forgery or alteration or

Commercial Code - COM - COM § 3303

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3303

(a) An instrument is issued or transferred for value if any of the following apply: (1) The instrument is issued or transferred for a promise of performance, to the extent the promise has been performed. (2) The transferee acquires a security interest or other lien in the instrum

Commercial Code - COM - COM § 3304

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3304

(a) An instrument payable on demand becomes overdue at the earliest of the following times: (1) On the day after the day demand for payment is duly made. (2) If the instrument is a check, 90 days after its date. (3) If the instrument is not a check, when the instrument has been o

Commercial Code - COM - COM § 3305

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3305

(a) Except as stated in subdivision (b), the right to enforce the obligation of a party to pay an instrument is subject to all of the following: (1) A defense of the obligor based on (A) infancy of the obligor to the extent it is a defense to a simple contract, (B) duress, lack o

Commercial Code - COM - COM § 3306

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3306

A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A perso

Commercial Code - COM - COM § 3307

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3307

(a) In this section: (1) “Fiduciary” means an agent, trustee, partner, corporate officer or director, limited liability company manager, or other representative owing a fiduciary duty with respect to an instrument. (2) “Represented person” means the principal, beneficiary, partne

Commercial Code - COM - COM § 3308

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3308

(a) In an action with respect to an instrument, the authenticity of, and authority to make, each signature on the instrument is admitted unless specifically denied in the pleadings. If the validity of a signature is denied in the pleadings, the burden of establishing validity is

Commercial Code - COM - COM § 3309

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3309

(a) A person not in possession of an instrument is entitled to enforce the instrument if (1) the person was in possession of the instrument and entitled to enforce it when loss of possession occurred, (2) the loss of possession was not the result of a transfer by the person or a

Commercial Code - COM - COM § 3310

statute | California | California Legislative Counsel

Commercial Code - COM - COM § 3310

(a) Unless otherwise agreed, if a certified check, cashier’s check, or teller’s check is taken for an obligation, the obligation is discharged to the same extent discharge would result if an amount of money equal to the amount of the instrument were taken in payment of the obliga