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Can you summarize MNST 336.3-115?
UNIFORM COMMERCIAL CODE > INCOMPLETE INSTRUMENT.
Short Summary
This legal document, under the Minnesota Statutes, specifically under the Uniform Commercial Code, defines an ‘incomplete instrument’ as a signed writing that is incomplete at the time of signing but intended to be completed later. It states that if an incomplete instrument is considered an instrument under section 336.3-104, it can be enforced according to its terms if it is not completed or if it is completed. If an incomplete instrument is not considered an instrument under section 336.3-104, but after completion, it meets the requirements of section 336.3-104, it can be enforced according to its terms as augmented by completion. The burden of proving that words or numbers were added without authority lies on the person asserting the lack of authority.
Whom does it apply to?
Any person asserting lack of authority for words or numbers added to an incomplete instrument without authority of the signer
What does it govern?
Incomplete instruments
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota