(a) “Issue” means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person.
Terms Used In Tennessee Code 47-3-105
Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
(b) 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 failure of the condition or special purpose to be fulfilled is a defense.(c) “Issuer” applies to issued and unissued instruments and means a maker or drawer of an instrument.
