This section of the Nevada Revised Statutes, under the Uniform Commercial CodeOriginal Articles, governs the obligation of an endorser in the case of a dishonored instrument. According to this section, if an instrument is dishonored, the endorser is obliged to pay the amount due on the instrument as per its terms at the time of endorsement. The obligation is owed to a person entitled to enforce the instrument or a subsequent endorser who paid the instrument.

This legal document, part of the Nevada Revised Statutes, specifically falls under the Uniform Commercial CodeOriginal Articles. It governs transfer warranties for instruments. According to the document, a person who transfers an instrument for consideration warrants to the transferee and subsequent transferees that they are entitled to enforce the instrument, all signatures on the instrument are authentic and authorized, the instrument has not been altered, the instrument is not subject to a defense or claim in recoupment, the warrantor has no knowledge of any insolvency proceeding, and with respect to a remotely-created item, the person on whose account the item is drawn authorized its issuance.

This section of the Nevada Revised Statutes, specifically under the Uniform Commercial CodeOriginal Articles, governs presentment warranties in commercial transactions. It outlines the warranties that apply when an unaccepted draft is presented to the drawee for payment or acceptance. The person obtaining payment or acceptance, as well as previous transferors of the draft, warrant to the drawee that they are entitled to enforce the draft, the draft has not been altered, they have no knowledge of unauthorized signatures, and, in the case of remotely-created items, the person on whose account the item is drawn authorized its issuance.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the payment or acceptance of drafts and instruments made by mistake. It outlines the rights and remedies available to drawees of drafts and persons paying or accepting instruments in cases where payment or acceptance was made based on a mistaken belief. The document allows drawees to recover the amount of the draft or revoke acceptance if payment or acceptance was made under the mistaken belief.

This legal document, governed by the Nevada Revised Statutes, specifically falls under the section of the Uniform Commercial CodeOriginal Articles related to Commercial Instruments and Transactions. It outlines the rules and obligations surrounding instruments signed for accommodation. An accommodation party is defined as a party who signs the instrument to incur liability without being a direct beneficiary of the value given for the instrument. The accommodation party may sign the instrument as a maker, drawer, acceptor, or endorser and is obliged to pay the instrument in the capacity in which they sign.

This legal document pertains to the conversion of instruments. It states that the law applicable to the conversion of personal property also applies to instruments. An instrument is considered converted if it is taken by transfer from a person not entitled to enforce the instrument or if a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. However, the issuer or acceptor of the instrument, as well as a payee or endorsee who did not receive delivery of the instrument, cannot bring an action for conversion.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, defines and regulates the concept of ‘Presentment.’ Presentment refers to a demand made by or on behalf of a person entitled to enforce an instrument, either to pay the instrument or to accept a draft. The document outlines the rules for presentment, including the place of payment, means of communication, effectiveness of presentment, and requirements for the person making presentment.

This legal document governs the dishonor of notes and drafts. It provides rules for determining when a note or draft is considered dishonored. For notes payable on demand, dishonor occurs if the note is not paid on the day of presentment. For notes not payable on demand, dishonor occurs if the note is not paid on the day it becomes payable. The document also outlines rules for dishonor of unaccepted drafts, documentary drafts, and accepted drafts.

This legal document, governed by the Nevada Revised Statutes, specifically the Uniform Commercial CodeOriginal Articles, pertains to the obligation of an endorser and drawer and the requirement of notice of dishonor. It states that the obligations of an endorser and drawer cannot be enforced unless notice of dishonor is given to them or notice of dishonor is excused. The notice of dishonor can be given by any person through various means, such as oral, written, or electronic communication, as long as it reasonably identifies the dishonored instrument.

This provision, found in the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, pertains to the excusal of presentment for payment or acceptance of an instrument, as well as the excusal of notice of dishonor. Presentment for payment or acceptance may be excused if the person entitled to present the instrument cannot do so with reasonable diligence, if the maker or acceptor has repudiated the obligation to pay or is deceased or in insolvency proceedings, if presentment is not necessary to enforce the obligation of endorsers or the drawer as per the instrument’s terms, if the drawer or endorser has waived presentment or has no reason to expect or require payment, or if the drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer.