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Can you summarize KYRS Chapter 355.3?
UNIFORM COMMERCIAL CODE > Negotiable Instruments
Short Summary
This legal document provides definitions for various terms used in the Kentucky Revised Statutes related to negotiable instruments under the Uniform Commercial Code. It defines terms such as acceptor, consumer account, consumer transaction, drawee, drawer, maker, order, ordinary care, party, principal obligor, promise, prove, remitter, remotely created item, and secondary obligor. The document also references definitions from other articles within the Kentucky Revised Statutes, such as acceptance, accommodated party, accommodation party, account, alteration, anomalous indorsement, blank indorsement, cashier’s check, certificate of deposit, certified check, check, consideration, draft, holder in due course, incomplete instrument, indorsement, indorser, instrument, issue, issuer, negotiable instrument, negotiation, note, payable at a definite time, payable on demand, payable to bearer, payable to order, payment, person entitled to enforce, presentment, reacquisition, special indorsement, teller’s check, transfer of instrument, traveler’s check, and value. This document does not specify any penalties or exemptions.
Whom does it apply to?
The document applies to any person or entity involved in the creation, issuance, possession, or enforcement of negotiable instruments.
What does it govern?
The legal document provides definitions for various terms used in the Kentucky Revised Statutes related to negotiable instruments under the Uniform Commercial Code.
What are exemptions?
The document does not specify any penalties or exemptions.
Jurisdiction
Kentucky