N.Y. Uniform Commercial Code 3-805 – Instruments Not Payable to Order or to Bearer
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Section 3–805. Instruments Not Payable to Order or to Bearer.
Terms Used In N.Y. Uniform Commercial Code 3-805
- Instrument: means a negotiable instrument. See N.Y. Uniform Commercial Code 3-102
- order: is a direction to pay and must be more than an
authorization or request. See N.Y. Uniform Commercial Code 3-102
This Article applies to any instrument whose terms do not preclude transfer and which is otherwise negotiable within this Article but which is not payable to order or to bearer, except that there can be no holder in due course of such an instrument.