This legal document, part of the Nevada Revised Statutes, pertains to the Uniform Commercial CodeOriginal Articles. It defines the concept of ’endorsement’ in relation to negotiable instruments. An endorsement refers to a signature, other than that of a signer as maker, drawer, or acceptor, made on an instrument for the purpose of negotiating the instrument, restricting payment, or incurring endorser’s liability. The document also explains the role of an endorser and clarifies that an endorsement that transfers a security interest in the instrument is effective as an unqualified endorsement.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the different types of endorsements on commercial instruments. It defines and explains three types of endorsements: special endorsement, blank endorsement, and anomalous endorsement. A special endorsement is made by the holder of an instrument and identifies a specific person to whom the instrument is payable. It can only be negotiated by the endorsement of that person.

This legal document, governed by the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, addresses the concept of restrictive endorsement. It states that an endorsement limiting payment to a particular person or prohibiting further transfer or negotiation of the instrument is not effective to prevent such actions. Additionally, an endorsement stating a condition for the right of the endorsee to receive payment does not affect the endorsee’s right to enforce the instrument.

Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument may cancel endorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the instrument. An endorser whose endorsement is cancelled is discharged, and the discharge is effective against any subsequent holder.

1.Person entitled to enforce an instrument means: (a)The holder of the instrument; (b)A nonholder in possession of the instrument who has the rights of a holder; or (c)A person not in possession of the instrument who is entitled to enforce the instrument pursuant to NRS 104.3309 or subsection 4 of NRS 104.3418 . 2.A person may be a person entitled to enforce the instrument even though the person is not the owner of the instrument or is in wrongful possession of the instrument.

This section of the Nevada Revised Statutes governs the concept of a ‘holder in due course’ in commercial instruments and transactions under the Uniform Commercial Code. A ‘holder in due course’ refers to a holder of an instrument who meets certain criteria. To be considered a holder in due course, the instrument must not bear evidence of forgery or alteration, and the holder must have taken the instrument for value, in good faith, and without notice of certain conditions or claims.

This legal document, part of the Nevada Revised Statutes, pertains to the Uniform Commercial CodeOriginal Articles. It governs the issuance and transfer of instruments for value. An instrument is considered issued or transferred for value if it meets certain conditions, such as being issued for a promise of performance, acquiring a security interest or lien, being used as payment or security for an antecedent claim, being exchanged for a negotiable instrument, or being exchanged for incurring an irrevocable obligation to a third party.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial Code, provides guidelines for determining when an instrument becomes overdue. An instrument payable on demand becomes overdue at the earliest of the following times: (a) On the day after the day demand for payment is duly made; (b) If the instrument is a check, 90 days after its date; or (c) If the instrument is not a check, when the instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade.

This section of the Nevada Revised Statutes governs the defenses and claims in recoupment related to the enforcement of obligations in commercial instruments and transactions. It outlines the rights and defenses available to obligors, including defenses based on infancy, duress, lack of legal capacity, illegality of the transaction, fraud, and discharge in insolvency proceedings. The section also allows for claims in recoupment by the obligor against the original payee of the instrument, but only to reduce the amount owing on the instrument.

A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right in the instrument or its proceeds, including a claim to rescind a negotiation and to recover the instrument or its proceeds. A person having rights of a holder in due course takes free of the claim to the instrument. (Added to NRS by 1965, 826; A 1993, 1276)