| (1) |
“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 Utah Code 70A-3-105
| (2) |
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. |
| (3) |
“Issuer” applies to issued and unissued instruments and means a maker or drawer of an instrument. |
Repealed and Re-enacted by Chapter 237, 1993 General Session
