Can you summarize NVRS 104.3307?
This legal document, governed by the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, addresses the breach of fiduciary duty. It defines the terms ‘fiduciary’ and ‘represented person’ and outlines the rules that apply when an instrument is taken from a fiduciary for payment or collection. The document states that notice of breach of fiduciary duty by the fiduciary is considered notice of the claim of the represented person. It also specifies the circumstances under which a taker of an instrument has notice of the breach of fiduciary duty.
Can you summarize NVRS 104.3308?
This legal document pertains to an action with respect to an instrument. It establishes that the authenticity and authority of each signature on the instrument is admitted unless specifically denied in the pleadings. The burden of establishing the validity of a signature lies with the person claiming validity, but the signature is presumed to be authentic and authorized unless the action is to enforce the liability of a deceased or incompetent signer.
Can you summarize NVRS 104.3309?
This legal provision, found in the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, pertains to the enforcement of lost, destroyed, or stolen instruments. It states that a person who is not in possession of an instrument may still be entitled to enforce it under certain conditions. These conditions include being entitled to enforce the instrument when the loss of possession occurred, directly or indirectly acquiring ownership from someone entitled to enforce the instrument, and the loss of possession not being a result of a transfer or lawful seizure.
Can you summarize NVRS 104.3310?
This legal document, part of the Nevada Revised Statutes, specifically addresses the effect of different types of instruments on obligations. It states that if a certified check, cashier’s check, or teller’s check is taken for an obligation, the obligation is discharged to the same extent as if the amount of the instrument was taken in payment. However, the discharge of the obligation does not affect any liability the obligor may have as an endorser of the instrument.
Can you summarize NVRS 104.3311?
This legal provision, found in the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, pertains to situations where a person against whom a claim is asserted offers an instrument as full satisfaction of the claim. If certain conditions are met, the claim may be discharged. The person asserting the claim must prove that the instrument was tendered in good faith, the amount of the claim was unliquidated or subject to a bona fide dispute, and the claimant obtained payment of the instrument.
Can you summarize NVRS 104.3312?
This section of the Nevada Revised Statutes, specifically under the Uniform Commercial CodeOriginal Articles, governs the procedures and rights related to lost, destroyed, or stolen cashier’s checks, teller’s checks, or certified checks. The section defines key terms such as ‘check’ (which includes cashier’s checks, teller’s checks, and certified checks), ‘claimant’ (a person claiming the right to receive the amount of a lost, destroyed, or stolen check), and ‘declaration of loss’ (a statement made under penalty of perjury regarding the loss of possession of a check).
Can you summarize NVRS 104.3401?
1.A person is not liable on an instrument
unless the person: (a)Signed the instrument; or (b)Is represented by an agent or representative
who signed the instrument and the signature is binding on him or her under NRS 104.3402 . 2.A signature may be made manually or by
means of a device or machine, and by the use of any name, including a trade or
assumed name, or by a word, mark, or symbol executed or adopted by a person
with present intention to authenticate a writing.
Can you summarize NVRS 104.3402?
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.
Can you summarize NVRS 104.3403?
1.Unless otherwise provided in this
article or article 4, an unauthorized signature is ineffective except as the
signature of the unauthorized signer in favor of a person who in good faith
pays the instrument or takes it for value. An unauthorized signature may be
ratified for all purposes of this article. 2.If the signature of more than one
person is required to constitute the authorized signature of an organization,
the signature of the organization is unauthorized if one of the required
signatures is lacking.
Can you summarize NVRS 104.3404?
This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, addresses the issue of impostors and fictitious payees in commercial instruments. It states that if an impostor induces the issuer of an instrument to issue it to the impostor or a person acting with the impostor by impersonating the payee or an authorized person, an endorsement of the instrument by any person in the name of the payee is effective as the endorsement of the payee in favor of a person who pays the instrument or takes it in good faith.