§ 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

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
  • 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
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.