Ask Reggi Your Question Now
Can you summarize 8.3A VACV Part 3?
Commercial Code Negotiable Instruments >
Short Summary
These legal documents, found in the Code of Virginia under the Commercial Code Negotiable Instruments, cover various aspects related to negotiable instruments. They govern the procedures and requirements for claimants who have lost, destroyed, or had their cashier’s check, teller’s check, or certified check stolen. They also address the effect of different types of instruments on the obligations for which they are taken, the enforcement of lost, destroyed, or stolen instruments, the proof of signatures and the status as a holder in due course, the breach of fiduciary duty, the conditions under which an instrument is considered issued or transferred for value, the defenses and claims in recoupment that apply to the enforcement of obligations related to negotiable instruments, and the determination of when an instrument becomes overdue. These documents apply to claimants, obligated banks, persons entitled to enforce the lost, destroyed, or stolen check, holders in due course, fiduciaries, represented persons, issuers, takers of instruments, obligors, holders of instruments, transferees of instruments, and accommodation parties. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Claimants, obligated banks, persons entitled to enforce the lost, destroyed, or stolen check, holders in due course, fiduciaries, represented persons, issuers, takers of instruments, obligors, holders of instruments, transferees of instruments, accommodation parties
What does it govern?
Procedures and requirements for claimants who have lost, destroyed, or had their cashier's check, teller's check, or certified check stolen; effect of different types of instruments on the obligations for which they are taken; enforcement of lost, destroyed, or stolen instruments; proof of signatures and the status as a holder in due course; breach of fiduciary duty; conditions under which an instrument is considered issued or transferred for value; defenses and claims in recoupment that apply to the enforcement of obligations related to negotiable instruments; determination of when an instrument becomes overdue
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Virginia