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Can you summarize NVRS 104.3103?
Uniform Commercial CodeOriginal Articles > Definitions.
Short Summary
This Article of the Nevada Revised Statutes governs commercial instruments and transactions under the Uniform Commercial Code. It provides definitions for various terms used in this Article, including acceptor, drawee, drawer, maker, order, ordinary care, party, promise, prove, record, remitter, and remotely-created item. The Article also references other definitions from different sections of the Nevada Revised Statutes, such as acceptance, accommodated party, accommodation party, account, alteration, anomalous endorsement, blank endorsement, cashier’s check, certificate of deposit, certified check, check, consideration, draft, endorsement, endorser, holder in due course, incomplete instrument, 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 endorsement, teller’s check, transfer of instrument, traveler’s check, and value. This Article also incorporates definitions from other Articles of the Nevada Revised Statutes, such as bank, banking day, clearinghouse, collecting bank, customer, depositary bank, documentary draft, intermediary bank, item, payor bank, and suspends payments. Additionally, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
Whom does it apply to?
This Article applies to parties involved in commercial instruments and transactions, including acceptors, drawees, drawers, makers, remitters, and issuers.
What does it govern?
Uniform Commercial CodeOriginal Articles
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada