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Can you summarize NHRS 382-A:4-208?
UNIFORM COMMERCIAL CODE > Presentment Warranties.
Short Summary
This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, establishes presentment warranties for drafts and other items. It outlines the obligations and warranties of drawees, persons obtaining payment or acceptance, previous transferors of the draft, and persons making payment for dishonored drafts or other items. The document specifies that the warrantors warrant to the drawee or person making payment that they are entitled to enforce the draft or item, that the draft has not been altered, that they have no knowledge of unauthorized signatures, and that the creation of a demand draft was authorized by the drawer. The document also addresses the rights of drawees and acceptors to recover damages for breach of warranty, the defenses that warrantors may use in case of unauthorized indorsements or alterations, and the time limits for asserting claims for breach of warranty. The warranties stated in subsections (a) and (d) cannot be disclaimed with respect to checks. However, no specific penalties are mentioned in this document.
Whom does it apply to?
Drawees, persons obtaining payment or acceptance, previous transferors of the draft, persons making payment for dishonored drafts or other items
What does it govern?
Presentment warranties
What are exemptions?
The warranties stated in subsections (a) and (d) cannot be disclaimed with respect to checks.
What are the Penalties?
No specific penalties mentioned.
Jurisdiction
New Hampshire