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Can you summarize NVRS 104.3402?
Uniform Commercial CodeOriginal Articles > Signature by representative.
Short Summary
This legal document, governed by the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, addresses the signature by a representative on an instrument. If a person acting as a representative signs an instrument using either the name of the represented person or their own name as the representative, the represented person is bound by the signature. The representative’s signature is considered the authorized signature of the represented person, and the represented person becomes liable on the instrument. If the representative signs their own name as an authorized signature of the represented person, they are not liable on the instrument if the form of the signature clearly indicates that it is made on behalf of the represented person. However, if the form of the signature does not clearly indicate the representative capacity or the represented person is not identified, the representative is liable on the instrument to a holder in due course, unless it can be proven that the original parties did not intend the representative to be liable. Additionally, if a representative signs their own name as the drawer of a check without indication of their representative status, and the check is payable from the represented person’s identified account, the signer is not liable on the check if the signature is authorized by the represented person.
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
Nevada