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COMMERCIAL RELATIONS > UNIFORM COMMERCIAL CODE: NEGOTIABLE INSTRUMENTS
Short Summary
The provided legal document content pertains to the Uniform Commercial Code: Negotiable Instruments under the Florida Statutes. It covers various aspects related to negotiable instruments, including definitions, provisions, transfer and negotiation, enforcement, liability of parties, dishonor, and discharge and payment. The documents define terms used in negotiable instruments and clarify their application to specific types of instruments. They also provide guidelines for determining the person to whom an instrument is payable, the conditions for an unconditional promise or order, payment in foreign money, and the terms prevailing in case of contradictory terms in an instrument. The documents address the liability of multiple parties on an instrument, modification of obligations by separate agreement, and the time limit for commencing an action to enforce an obligation. They also discuss the transfer and negotiation of negotiable instruments, including the rights acquired by the transferee and the requirements for negotiation to occur. The documents outline the criteria for a person to be considered as entitled to enforce an instrument and the rights and obligations of parties involved in the payment of negotiable instruments. They also cover the enforcement of lost, destroyed, or stolen instruments and the effect of different types of instruments on obligations. The liability of parties in cases involving impostors and fictitious payees, as well as the responsibility of employers for fraudulent indorsement by their employees, is also addressed. The documents provide guidelines for the acceptance of drafts and certified checks, the obligations of the drawee, and the liability of drawers and indorsers in the case of dishonored instruments. They also discuss transfer and presentment warranties, the conversion of instruments, and the remedies available in case of conversion. The documents further cover the dishonor of negotiable instruments, obligations of indorsers and drawers, presentment for payment or acceptance, notice of dishonor, and evidence of dishonor. They establish the rules and requirements for making presentment, the obligations of indorsers and drawers in relation to dishonored instruments, and the acceptable methods and timelines for giving notice of dishonor. The admissible evidence that creates a presumption of dishonor and notice of dishonor is also mentioned. Additionally, the documents address the topic of discharge and payment, stating when an instrument is considered paid and the exceptions to this rule. Overall, these legal documents provide a comprehensive framework for the governance, transfer, enforcement, liability, dishonor, and discharge of negotiable instruments in the state of Florida.
Whom does it apply to?
The documents apply to individuals and entities involved in negotiable instruments, such as acceptors, drawees, drawers, makers, order parties, remitters, signers, representatives, employers, indorsers, transferees, and more.
What does it govern?
The legal document content covers various aspects of negotiable instruments, including definitions, provisions, transfer and negotiation, enforcement, liability of parties, dishonor, and discharge and payment.
What are exemptions?
No specific exemptions are mentioned in the documents.
What are the Penalties?
No specific penalties are mentioned in the documents.
Jurisdiction
Florida