§ 4-A-301 Execution and Execution Date
§ 4-A-302 Obligations of Receiving Bank in Execution of Payment Order
§ 4-A-303 Erroneous Execution of Payment Order
§ 4-A-304 Duty of Sender to Report Erroneously Executed Payment Order
§ 4-A-305 Liability for Late or Improper Execution or Failure to Execute Payment Order

Terms Used In New York Laws > Uniform Commercial Code > Article 4-A > Part 3 - Execution of Sender's Payment Order by Receiving Bank

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Commercial goods transportation contractor: includes a general commercial goods transportation contractor or a commercial goods transportation subcontractor. See N.Y. Labor Law 862-A
  • Commissioner: means the commissioner of labor. See N.Y. Labor Law 862-A
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Department: means the department of labor. See N.Y. Labor Law 862-A
  • Employer: means any commercial goods transportation contractor which compensates a person classified as an employee under section eight hundred sixty-two-b of this article. See N.Y. Labor Law 862-A
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Statute: A law passed by a legislature.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.