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Can you summarize NHRS 382-A:3-402?
UNIFORM COMMERCIAL CODE > Signature by Representative.
Short Summary
This legal provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the signing of instruments by representatives. If a person acting as a representative signs an instrument using either the name of the represented person or their own name, the represented person is bound by the signature to the same extent as if it were a simple contract. The representative’s signature is considered the authorized signature of the represented person, making them liable on the instrument. However, if the representative signs their own name to an instrument and it is an authorized signature of the represented person, they are not liable on the instrument if the form of the signature clearly shows that it is made on behalf of the represented person. If the form of the signature does not unambiguously indicate the representative capacity or the represented person is not identified in the instrument, the representative is liable on the instrument to a holder in due course, unless the original parties did not intend for the representative to be liable. There is a specific provision regarding representatives signing checks without indication of their representative status, where the signer is not liable if the signature is authorized and the check is payable from the represented person’s identified account.
Whom does it apply to?
Persons acting as representatives and the represented person
What does it govern?
Signature by representative
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Hampshire