Ohio Code 1303.04 – Issue of instrument – UCC 3-105(b)
Current as of: 2023 | Check for updates
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An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but the failure of the condition or special purpose to be fulfilled is a defense.
Terms Used In Ohio Code 1303.04
- Drawer: means a person who signs or is identified in a draft as a person ordering payment. See Ohio Code 1303.01
- Maker: means a person who signs or is identified in a note as a person undertaking to pay. See Ohio Code 1303.01