Arizona § 47-3407 Alteration

Arizona Statutes

§ 47-3407 — Alteration

Arizona § 47-3407

Title 47Arizona Revised Statutes

Ch. 3NEGOTIABLE INSTRUMENTS

Art. 4Liability of Parties

This text of Arizona § 47-3407 (Alteration) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 47-3407 (2026).

Text

A."Alteration" means:

1.An unauthorized change in an instrument that purports to modify in any respect the obligation of a party; or

2.An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

B.Except as provided in subsection C, an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

C.A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument:

1.Accor

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A. "Alteration" means:

1. An unauthorized change in an instrument that purports to modify in any respect the obligation of a party; or

2. An unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

B. Except as provided in subsection C, an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

C. A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument:

1. According to its original terms; or

2. In the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed.