CHAPTER 4. Liability of Parties [3401. - 3420.]
Chapter 4 added by Stats. 1992, Ch. 914, Sec. 6.
§§ 3401–3420 · 20 sections
- § 3401 A person is not liable on an instrument unless (a) the person signed the instrument, or (b) the person is represented by an agent or representative who signed…
- § 3402 (a) If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person or the name of the…
- § 3403 (a) Unless otherwise provided in this division or Division 4 (commencing with Section 4101), an unauthorized signature is ineffective except as the signature…
- § 3404 (a) If an impostor, by use of the mails or otherwise, induces the issuer of an instrument to issue the instrument to the impostor, or to a person acting in…
- § 3405 (a) In this section: (1) “Employee” includes an independent contractor and employee of an independent contractor retained by the employer. (2) “Fraudulent…
- § 3406 (a) A person whose failure to exercise ordinary care contributes to an alteration of an instrument or to the making of a forged signature on an instrument is…
- § 3407 (a) “Alteration” means (1) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or (2) an unauthorized…
- § 3408 A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable…
- § 3409 (a) “Acceptance” means the drawee’s signed agreement to pay a draft as presented. It shall be written on the draft and may consist of the drawee’s signature…
- § 3410 (a) If the terms of a drawee’s acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as…
- § 3411 (a) In this section, “obligated bank” means the acceptor of a certified check or the issuer of a cashier’s check or teller’s check bought from the issuer. (b)…
- § 3412 The issuer of a note or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument (a) according to its terms at the time it was…
- § 3413 (a) The acceptor of a draft is obliged to pay the draft (1) according to its terms at the time it was accepted, even though the acceptance states that the…
- § 3414 (a) This section does not apply to cashier’s checks or other drafts drawn on the drawer. (b) If an unaccepted draft is dishonored, the drawer is obliged to pay…
- § 3415 (a) Subject to subdivisions (b), (c), and (d) and to subdivision (d) of Section 3419, if an instrument is dishonored, an indorser is obliged to pay the amount…
- § 3416 (a) A person who transfers an instrument for consideration warrants all of the following to the transferee and, if the transfer is by indorsement, to any…
- § 3417 (a) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, (i) the person obtaining payment or…
- § 3418 (a) Except as provided in subdivision (c), if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that (1) payment of…
- § 3419 (a) If an instrument is issued for value given for the benefit of a party to the instrument (“accommodated party”) and another party to the instrument…
- § 3420 (a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a…