This legal document, under the Minnesota Statutes, specifically under the Trade Regulations and Consumer Protection section of the Uniform Commercial Code (UCC), governs defenses and claims in recoupment. It outlines the rights and obligations of parties involved in the enforcement of payment instruments. The document specifies various defenses that an obligor can raise, such as infancy, duress, lack of legal capacity, fraud, or discharge in insolvency proceedings. It also allows for claims in recoupment by the obligor against the original payee of the instrument, subject to certain conditions.

336.3-306 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-306 CLAIMS TO AN INSTRUMENT.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.

This legal document, governed by the Minnesota Statutes under the Uniform Commercial Code, addresses the notice of breach of fiduciary duty. It defines ‘fiduciary’ as an agent, trustee, partner, corporate officer or director, or other representative owing a fiduciary duty, and ‘represented person’ as the principal, beneficiary, partnership, corporation, or other person to whom the duty is owed. The document outlines the rules that apply when an instrument is taken from a fiduciary for payment or collection, and the represented person claims a breach of fiduciary duty.

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. However, signatures are presumed to be authentic and authorized unless the action is to enforce the liability of a purported signer who is deceased or incompetent at the time of trial.

This legal document, part of the Minnesota Statutes under the Trade Regulations and Consumer Protection section, pertains to the enforcement of lost, destroyed, or stolen instruments. It outlines the conditions under which a person not in possession of an instrument is entitled to enforce it. The person seeking enforcement must have been entitled to enforce the instrument when the loss of possession occurred or have acquired ownership from someone who was entitled to enforce it.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, addresses the effect of different types of instruments on obligations. 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 an equivalent amount of money was taken in payment. However, the obligor may still have liability as an endorser of the instrument. If a note or an uncertified check is taken, the obligation is suspended until the instrument is dishonored, paid, or certified.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, governs the concept of accord and satisfaction by use of an instrument. It outlines the conditions under which a person against whom a claim is asserted can prove that they in good faith tendered an instrument to the claimant as full satisfaction of the claim. The document specifies that the claim must be unliquidated or subject to a bona fide dispute, and the claimant must have obtained payment of the instrument.

This section of the Minnesota Statutes, under the Trade Regulations and Consumer Protection section, pertains to the process and requirements for claimants who have lost, destroyed, or had their cashier’s check, teller’s check, or certified check stolen. The section defines key terms such as ‘check’ (which includes cashier’s check, teller’s check, or certified check), ‘claimant’ (the person claiming the right to receive the amount of the lost, destroyed, or stolen check), and ‘declaration of loss’ (a statement made under penalty of perjury regarding the loss of the check).

336.3-401 MS 1990 [Repealed, 1992 c 565 s 114] 336.3-401 SIGNATURE. (a) A person is not liable on an instrument unless (i) the person signed the instrument, or (ii) the person is represented by an agent or representative who signed the instrument and the signature is binding on the represented person under section 336.3-402 . (b) A signature may be made (i) manually or by means of a device or machine, and (ii) 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.

This legal provision, under the Minnesota Statutes, specifically under the Uniform Commercial Code, governs the signature by a representative. It states that if a person acting or purporting to act as a representative signs an instrument using either the name of the represented person or their own name, the represented person is bound by that signature. The representative’s signature becomes the authorized signature of the represented person, and the represented person becomes liable on the instrument.