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Can you summarize NHRS 382-A:3-104?
UNIFORM COMMERCIAL CODE > Negotiable Instrument.
Short Summary
This legal document, part of the New Hampshire Revised Statutes, specifically the Uniform Commercial Code (Chapter 382-A), defines and governs negotiable instruments. A negotiable instrument is an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges. It must be payable to bearer or order, payable on demand or at a definite time, and must not contain any other undertakings or instructions beyond the payment of money. The document also provides definitions for related terms such as ‘instrument,’ ‘check,’ ‘cashier’s check,’ ’teller’s check,’ ’traveler’s check,’ ‘certificate of deposit,’ and ‘demand draft.’ It clarifies that a promise or order that meets the requirements of a check is considered a negotiable instrument and a check. However, if a promise or order explicitly states that it is not negotiable or not governed by this Article, it is not considered an instrument. The document does not mention specific penalties for non-compliance or violation of its provisions.
Whom does it apply to?
Holders and issuers of negotiable instruments
What does it govern?
Negotiable instruments
What are exemptions?
Instruments that contain a statement indicating they are not negotiable or not governed by this Article
What are the Penalties?
No specific penalties mentioned in the document
Jurisdiction
New Hampshire