§ 70A-4a-401 Payment date
§ 70A-4a-402 Obligation of sender to pay receiving bank
§ 70A-4a-403 Payment by sender to receiving bank
§ 70A-4a-404 Obligation of beneficiary’s bank to pay and give notice to beneficiary
§ 70A-4a-405 Payment by beneficiary’s bank to beneficiary
§ 70A-4a-406 Payment by originator to beneficiary — Discharge of underlying obligation

Terms Used In Utah Code > Title 70A > Chapter 4a > Part 4 - Payment

  • 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
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means :Utah Code 68-3-12.5
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.