(a) ‘Issue’ means: (1) the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person; or (2) if agreed by the payee, first transmission by the drawer to the payee of an image of an item and information derived from the item in a manner that enables the depository bank to collect the item by transferring or presenting under federal law an electronic check.

This legal document, part of the New Hampshire Revised Statutes, specifically the Uniform Commercial Code (Chapter 382-A), discusses the conditions for an unconditional promise or order in commercial transactions. It states that a promise or order is considered unconditional unless it includes an express condition to payment, is subject to or governed by another writing, or if rights or obligations are stated in another writing. The document clarifies that a reference to another writing does not automatically make the promise or order conditional.

Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid. Source. 1993, 346:1, eff. Jan. 1, 1994.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, provides definitions and criteria for determining whether a promise or order is payable on demand or at a definite time. A promise or order is considered ‘payable on demand’ if it explicitly states so or does not specify any time of payment. On the other hand, a promise or order is ‘payable at a definite time’ if it becomes due after a specific period of time, at a fixed date or dates, or at a time or times that can be easily determined when the promise or order is issued.

(a) A promise or order is payable to bearer if it: (1) states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment; (2) does not state a payee; or (3) states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, provides guidelines for determining the person to whom an instrument is initially payable. The document states that the person intended by the signer, even if identified differently in the instrument, is the payee. If multiple signers do not intend the same person as payee, the instrument is payable to any person intended by one or more of the signers.

Except as otherwise provided for items in Article 4, an instrument is payable at the place of payment stated in the instrument. If no place of payment is stated, an instrument is payable at the address of the drawee or maker stated in the instrument. If no address is stated, the place of payment is the place of business of the drawee or maker. If a drawee or maker has more than one place of business, the place of payment is any place of business of the drawee or maker chosen by the person entitled to enforce the instrument.

(a) Unless otherwise provided in the instrument, (i) an instrument is not payable with interest, and (ii) interest on an interest-bearing instrument is payable from the date of the instrument. (b) Interest may be stated in an instrument as a fixed or variable amount of money or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument.

(a) An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after date. Except as provided in Section 4-401(c), an instrument payable on demand is not payable before the date of the instrument. (b) If an instrument is undated, its date is the date of its issue or, in the case of an unissued instrument, the date it first comes into possession of a holder.

If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. Source. 1993, 346:1, eff. Jan. 1, 1994.