Section 3--102. Definitions and Index of Definitions  


Latest version.
  • (1) In this Article unless the context otherwise requires
             (a) "Issue" means the first delivery of an instrument to a holder
                 or a remitter.
             (b) An  "order"  is  a  direction to pay and must be more than an
                 authorization or request. It must identify the person to  pay
                 with reasonable certainty. It may be addressed to one or more
                 such  persons  jointly  or  in  the  alternative  but  not in
                 succession.
             (c) A "promise" is an undertaking to pay and must be more than an
                 acknowledgment of an obligation.
             (d) "Secondary party" means a drawer or endorser.
             (e) "Instrument" means a negotiable instrument.
        (2) Other definitions applying to this Article  and  the  sections  in
      which they appear are:
        "Acceptance". Section 3--410.
        "Accommodation party". Section 3--415.
        "Alteration". Section 3--407.
        "Certificate of deposit". Section 3--104.
        "Certification". Section 3--411.
        "Check". Section 3--104.
        "Definite time". Section 3--109.
        "Dishonor". Section 3--507.
        "Draft". Section 3--104.
        "Holder in due course". Section 3--302.
        "Negotiation". Section 3--202.
        "Note". Section 3--104.
        "Notice of dishonor". Section 3--508.
        "On demand". Section 3--108.
        "Presentment". Section 3--504.
        "Protest". Section 3--509.
        "Restrictive Indorsement". Section 3--205.
        "Signature". Section 3--401.
        (3) The following definitions in other Articles apply to this Article:
        "Account". Section 4--104.
        "Banking Day". Section 4--104.
        "Clearing house". Section 4--104.
        "Collecting bank". Section 4--105.
        "Customer". Section 4--104.
        "Depositary Bank". Section 4--105.
        "Documentary Draft". Section 4--104.
        "Intermediary Bank". Section 4--105.
        "Item". Section 4--104.
        "Midnight deadline". Section 4--104.
        "Payor bank". Section 4--105.
        (4)  In addition Article 1 contains general definitions and principles
      of construction and interpretation applicable throughout this Article.